Technical analysis GBPJPY for 31.08.2023

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 descending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest resistance is the level 186.260. The closest support is the level 185.130

Key levels

• 187.000, 186.650, 186.260, 185.130, 184.610, 184.100

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 186.260, with Take Profit of 186.650 and Stop Loss of 185.700

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 185.130, with Take Profit of 184.610 and Stop Loss of 185.700