Technical analysis GBPJPY for 16.12.2022

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 below the Tenkan-se and Kijun-sen lines. The closest support is the level 167.575. The closest resistance is the level 168.300

Key levels

• 169.125, 168.300, 167.575, 166.950, 166.000

Trading scenario

• Recommended opening long positions (Buy Limit) from the level of 167.575, with Take Profit of 168.300 and Stop Loss of 166.950

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 166.950, with Take Profit of 166.000 and Stop Loss of 167.575