Technical analysis GBPJPY for 21.02.2022

The Tenkan-sen line is located above the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span is below the price chart. In this case, the cloud is ready to roll over from ascending to descending. Instrument is traded between Tenkan-se and Kijun-sen lines. The closest support and resistance levels are Kijun-sen and Tenkan-se, respectively. The closest support and resistance levels are Kijun-sen and Tenkan-se, respectively

Key levels

• 158.750, 157.575, 156.800, 155.900, 154.875, 154.025, 153.000, 151.800

Trading scenario

• Recommended opening short positions (Sell Limit) from the level of 156.800, with Take Profit of 155.900 and Stop Loss of 157.575

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 157.575, with Take Profit of 158.750 and Stop Loss of 156.800