Technical analysis GBPJPY for 09.12.2022

The Tenkan-sen line is located below the Kijun-sen line. Both lines are 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 168.040. The closest support is the level 166.380

Key levels

• 169.870, 168.840, 168.040, 166.380, 165.300, 164.140

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 168.040, with Take Profit of 168.840 and Stop Loss of 167.150

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 166.380, with Take Profit of 165.300 and Stop Loss of 167.150