Technical analysis GBPJPY for 12.09.2022

The Tenkan-sen line is located above the Kijun-sen line. Blue is directed upwards, while red remains horizontal. Confirmatory line Chikou Span is above the price chart. In this case, the cloud is ascending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest resistance is the level 166.310. The closest support is the level 165.370

Key levels

• 167.720, 166.960, 166.310, 165.370, 164.800, 163.970

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 166.310, with Take Profit of 166.960 and Stop Loss of 165.850

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 165.370, with Take Profit of 164.800 and Stop Loss of 165.850