GBP/JPY | British Pound to Japanese Yen Trading Analysis

Source: PaxForex Premium Analytics Portal, Technical Insight

The Bank of Japan offers to buy an unlimited amount of 10-year JBG at 0.25%.

GBP/JPY,D1

Pivot: 167.60

Analysis:

As long as price is above 159.88 follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 160.97
• Take profit 1: 164.62
• Take Profit 2: 168.45

Alternative scenario:

If the level of 159.88 is broken-down, follow the recommendations below:           

• Time frame: D1
• Recommendation: short position
• Entry point: 159.88
• Take profit 1: 157.60
• Take profit 2: 155.45

Comment:

RSI indicates the potential for an uptrend in the medium term.

Key levels: