Technical analysis GBPJPY for 05.09.2023

The Tenkan-sen line is located below the Kijun-sen line. Red is directed upwards, while blue remains horizontal. Confirmatory line Chikou Span crosses bottom upward 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 185.300. The closest support is the level 184.610

Key levels

• 186.260, 185.690, 185.300, 184.610, 184.100, 183.650

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 185.300, with Take Profit of 185.690 and Stop Loss of 184.950

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 184.610, with Take Profit of 184.100 and Stop Loss of 184.950