Technical analysis GBPJPY for 22.04.2022

The Tenkan-sen line is located above the Kijun-sen line. 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 166.700. The closest resistance is the level 168.450

Key levels

• 170.400, 168.450, 166.700, 165.175, 163.950, 162.750, 161.400

Trading scenario

• Recommended opening long positions (Buy Limit) from the level of 166.700, with Take Profit of 168.450 and Stop Loss of 165.175

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 165.175, with Take Profit of 163.950 and Stop Loss of 165.730