Technical analysis GBPJPY for 22.07.2022

The Tenkan-sen line is located below 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 below the Tenkan-se and Kijun-sen lines. The closest resistance is the level 165.620. The closest support is the level 164.310

Key levels

• 167.050, 166.330, 165.620, 164.310, 163.400, 162.570

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 165.620, with Take Profit of 166.330 and Stop Loss of 165.000

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 164.310, with Take Profit of 163.400 and Stop Loss of 165.000