Technical analysis GBPJPY for 28.08.2023

The Tenkan-sen line is located below the Kijun-sen line. Red is directed downward, while blue remains horizontal. Confirmatory line Chikou Span is below the price chart. In this case, the cloud is descending. Instrument is traded between Tenkan-se and Kijun-sen lines. The closest resistance is the level 185.136. The closest support is the level 181.670

Key levels

• 186.260, 185.710, 185.136, 181.670, 183.040, 182.260

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 185.136, with Take Profit of 185.710 and Stop Loss of 184.300

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 181.670, with Take Profit of 183.040 and Stop Loss of 184.300