Technical analysis GBPJPY for 01.07.2022

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 is descending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest resistance is the level 165.490. The closest support is the level 164.830

Key levels

• 166.960, 166.360, 165.490, 164.830, 164.050, 163.280

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 165.490, with Take Profit of 166.360 and Stop Loss of 165.150

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 164.830, with Take Profit of 164.050 and Stop Loss of 165.150