Source: PaxForex Premium Analytics Portal, Technical Insight
GBP/JPY hits another 16-year high as markets dare BoJ to intervene.
Pivot: 202.63
Analysis:
As long as the price is above 199.00 follow the recommendations below
- Time frame: D1
- Recommendation: long position
- Entry point: 202.63
- Take profit 1: 204.00
- Take Profit 2: 206.00
Alternative scenario:
If the level of 199.00 is broken-down , follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 199.00
- Take profit 1: 197.00
- Take profit 2: 195.00
Comment:
RSI indicates the potential for an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 208.00 | 199.00 |
| 206.00 | 197.00 |
| 204.00 | 195.00 |
