Technical analysis GBPJPY for 12.07.2022

The Tenkan-sen line is located above the Kijun-sen line. Red is directed upwards, while blue remains horizontal. Confirmatory line Chikou Span is above the price chart. In this case, the cloud is descending. Instrument is traded between Tenkan-se and Kijun-sen lines. The closest support is the level 162.875. The closest resistance is the level 163.450

Key levels

• 164.650, 164.050, 163.450, 162.875, 161.950

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 163.450, with Take Profit of 164.050 and Stop Loss of 162.875

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 162.875, with Take Profit of 161.950 and Stop Loss of 163.450