Technical analysis GBPJPY for 25.08.2022

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 ascending. Instrument is traded between Tenkan-se and Kijun-sen lines. The closest resistance is the level 162.110. The closest support is the level 161.250

Key levels

• 163.170, 162.620, 162.110, 161.250, 160.780, 160.290

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 162.110, with Take Profit of 162.620 and Stop Loss of 161.650

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 161.250, with Take Profit of 160.780 and Stop Loss of 161.650