Technical analysis GBPJPY for 23.02.2022

The Tenkan-sen line is located below the Kijun-sen line. Red is directed upwards, while blue remains horizontal. Confirmatory line Chikou Span crosses bottom upward the price chart. In this case, the cloud is descending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest support is the level 156.00. The closest resistance is the level 156.85

Key levels

• 160.00, 158.75, 158.00, 156.85, 156.00, 155.45, 154.80, 154.10, 152.90

Trading scenario

• Recommended opening long positions (Buy Limit) from the level of 156.00, with Take Profit of 156.85 and Stop Loss of 155.45

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 155.45, with Take Profit of 154.10 and Stop Loss of 156.00