Technical analysis GBPJPY for 14.03.2022

The Tenkan-sen line is located above the Kijun-sen line. Red is directed upwards, while blue remains horizontal. Confirmatory line Chikou Span is above 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 153.950. The closest resistance is the level 154.900

Key levels

• 157.600, 155.950, 154.900, 153.950, 152.950, 151.950

Trading scenario

• Recommended opening long positions (Buy Limit) from the level of 153.950, with Take Profit of 154900 and Stop Loss of 152.950

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 152.950, with Take Profit of 151.950 and Stop Loss of 153.665