Technical analysis GBPJPY for 01.08.2023

The Tenkan-sen line is located above the Kijun-sen line. Red is directed upwards, while blue remains horizontal. Confirmatory line Chikou Span crossed and fixed above the price chart. In this case, the cloud is ascending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest support is the level 182.225. The closest resistance is the level 183.000

Key levels

• 183.800, 183.000, 182.225, 181.375, 180.650

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 183.000, with Take Profit of 183.800 and Stop Loss of 182.225

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 182.225, with Take Profit of 181.375 and Stop Loss of 183.000