Source: PaxForex Premium Analytics Portal, Technical Insight
GBP/JPY skids along the bottom, bears looking for 181.00.
Pivot: 181.17
Analysis:
As long as the price is below 183.00 follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 181.17
- Take profit 1: 182.60
- Take Profit 2: 179.40
Alternative scenario:
If the level of 183.00 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 183.00
- Take profit 1: 184.00
- Take profit 2: 185.50
Comment:
RSI indicates the potential for a downtrend in the medium term.
Key levels:
| Resistance | Support |
| 185.50 | 180.60 |
| 184.00 | 179.40 |
| 183.00 | 178.00 |
