Technical analysis GBPJPY for 24.02.2023

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 161.725. The closest resistance is the level 162.450

Key levels

• 163.025, 162.450, 161.725, 161.250, 160.600

Trading scenario

• Recommended opening long positions (Buy Limit) from the level of 161.725, with Take Profit of 162.450 and Stop Loss of 161.250

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 161.250, with Take Profit of 160.600 and Stop Loss of 161.725