GBP/JPY | British Pound to Japanese Yen Trading Analysis

Source: PaxForex Premium Analytics Portal, Technical Insight

Prime Minister Kishida: The stability of the currency is important.

GBP/JPY,D1

Pivot: 159.20

Analysis:

As long as price is below 162.20 follow the recommendations below:

• Time frame: D1
• Recommendation: short position
• Entry point: 159.20
• Take profit 1: 157.60
• Take Profit 2: 156.30

Alternative scenario:

If the level of 162.20 is broken-out, follow the recommendations below:             

• Time frame: D1
• Recommendation: long position
• Entry point: 162.20
• Take profit 1: 164.62
• Take profit 2: 168.45

Comment:

RSI indicates the potential for a downtrend in the medium term.

Key levels: