Source: PaxForex Premium Analytics Portal, Technical Insight
GBP/JPY is declining from 2-week highs, approaching 151.50.
GBP/JPY,D1
Pivot: 150.90
Analysis:
As long as price is above 149.14 follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 150.90
- Take profit 1: 152.50
- Take Profit 2: 156.27
Alternative scenario:
If the level of 149.14 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 149.14
- Take profit 1: 145.74
- Take profit 2: 143.72
Comment:
RSI indicates the potential for uptrend in the medium term.
Key levels:
| Resistance | Support |
| 158.00 | 149.14 |
| 156.27 | 145.74 |
| 152.50 | 143.72 |
