Technical analysis GBPJPY for 12.04.2022

Tenkan-sen and Kijun-sen lines are merged. Both lines are horizontal. Confirmatory line Chikou Span is above the price chart. In this case, the cloud is ascending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest support is the level 162.65. The closest resistance is the level 163.75

Key levels

• 164.65, 163.75, 162.65, 162.25, 161.45, 160.50, 159.50, 158.20

Trading scenario

• Recommended opening long positions (Buy Limit) from the level of 162.65, with Take Profit of 163.75 and Stop Loss of 162.25

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 162.25, with Take Profit of 161.45 and Stop Loss of 162.65