Technical analysis GBPJPY for 27.10.2022

The Tenkan-sen line is located above the Kijun-sen line. Red is directed upwards, while blue 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 170.970. The closest support is the level 169.500

Key levels

• 172.690, 171.900, 170.970, 169.500, 168.550, 167.580

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 170.970, with Take Profit of 171.900 and Stop Loss of 170.250

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 169.500, with Take Profit of 168.550 and Stop Loss of 170.250