Source: PaxForex Premium Analytics Portal, Technical Insight
Kuroda: the cost of buying the dollar to buy raw materials is one of the main factors weakening the yen.
GBP/JPY,D1
Pivot: 159.87
Analysis:
As long as price is above 158.00 follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 159.87
- Take profit 1: 161.50
- Take Profit 2: 163.50
Alternative scenario:
If the level of 158.00 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 158.00
- Take profit 1: 153.50
- Take profit 2: 151.10
Comment:
RSI indicates the potential for an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 164.00 | 158.00 |
| 163.50 | 153.50 |
| 161.50 | 151.10 |
