Technical analysis GBPJPY for 18.08.2023

The Tenkan-sen line is located above 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 traded between Tenkan-se and Kijun-sen lines. The closest resistance is the level 186.450. The closest support is the level 185.130

Key levels

• 187.540, 186.990, 186.450, 185.130, 184.510, 183.830

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 186.450, with Take Profit of 186.990 and Stop Loss of 185.750

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 185.130, with Take Profit of 184.510 and Stop Loss of 185.750