Source: PaxForex Premium Analytics Portal, Technical Insight
The weakening of the yen across the market has supported the GBP/JPY.
GBP/JPY,D1
Pivot: 151.27
Analysis:
While the price is below 153.44, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 151.27
- Take Profit 1: 149.60
- Take Profit 2: 146.60
Alternative scenario:
If the level 153.44 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 153.44
- Take Profit 1: 156.53
- Take Profit 2: 158.36
Comment:
RSI shows the development of a downtrend in the medium term.
Key levels:
| Resistance | Support |
| 158.36 | 149.60 |
| 156.53 | 146.60 |
| 153.44 | 144.77 |
