Technical analysis GBPJPY for 24.06.2022

The Tenkan-sen line is located below the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span is below the price chart. In this case, the cloud is ascending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest support is the level 164.750. The closest resistance is the level 165.450

Key levels

• 166.960, 166.075, 165.450, 164.750, 164.050, 163.260

Trading scenario

• Recommended opening short positions (Sell Limit) from the level of 165.450, with Take Profit of 164.750 and Stop Loss of 166.075

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 166.075, with Take Profit of 166.960 and Stop Loss of 165.450