Source: PaxForex Premium Analytics Portal, Technical Insight

Bank of England, Mann: if price and wage expectations hold true, inflation could remain high through 2023.

GBP/JPY,D1

Pivot: 153.83

Analysis:

As long as price is above 153.59 follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 153.83
• Take profit 1: 155.50
• Take Profit 2: 157.88

Alternative scenario:

If the level of 153.59 is broken-down, follow the recommendations below:                 

• Time frame: D1
• Recommendation: short position
• Entry point: 153.59
• Take profit 1: 150.48
• Take profit 2: 148.63

Comment:

RSI indicates the potential for uptrend in the medium term.

Key levels: