Technical analysis GBPJPY for 26.09.2022

The Tenkan-sen line is located below the Kijun-sen line. Both lines are directed downward. 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 support is the level 154.875. The closest resistance is the level 156.025

Key levels

• 160.850, 158.075, 156.025, 154.875, 152.875

Trading scenario

• Recommended opening short positions (Sell Stop) from the level of 154.875, with Take Profit of 152.875 and Stop Loss of 156.025

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 156.025, with Take Profit of 158.075 and Stop Loss of 154.875