Technical analysis GBPJPY for 24.10.2022

Tenkan-sen and Kijun-sen lines are merged. Both lines are horizontal. Confirmatory line Chikou Span is below the price chart. In this case, the cloud is ascending. Instrument corrected to the Tenkan-se line. The closest resistance is the level 168.550. The closest support is the level 165.390

Key levels

• 170.970, 169.550, 168.550, 165.390, 164.240, 163.080

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 168.550, with Take Profit of 169.550 and Stop Loss of 167.200

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 165.390, with Take Profit of 164.240 and Stop Loss of 167.200