Technical analysis GBPJPY for 04.04.2022

The Tenkan-sen line is located below the Kijun-sen line. Red is directed upwards, while blue remains horizontal. Confirmatory line Chikou Span is below the price chart. In this case, the cloud turned over from ascending to descending. Instrument is traded between Tenkan-se and Kijun-sen lines. The closest support is the level 160.50. The closest resistance is the level 161.45

Key levels

• 164.65, 162.65, 161.45, 160.50, 159.50, 158.20, 156.35

Trading scenario

• Recommended opening long positions (Buy) at the current price, with Take Profit of 162.65 and Stop Loss of 159.50

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 159.50, with Take Profit of 158.20 and Stop Loss of 160.50