Technical analysis GBPJPY for 02.12.2021

The Tenkan-sen line is located below the Kijun-sen line. Both lines are directed downward. Confirmatory line Chikou Span is below the price chart. In this case, the cloud is descending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest support is the level 148.90. The closest resistance is the level 150.15

Key levels

• 158.80, 155.75, 154.75, 153.60, 152.50, 151.15, 150.15, 148.90, 148.10

Trading scenario

• Recommended opening short positions (Sell) at the current price, with Take Profit of 148.90 and Stop Loss of 150.40

Alternative scenario

• Recommended opening short positions (Sell Limit) from the level of 151.15, with Take Profit of 150.15 and Stop Loss of 151.60