Technical analysis GBPJPY for 08.09.2023

The Tenkan-sen line is located below the Kijun-sen line. Red is directed downward, while blue remains horizontal. Confirmatory line Chikou Span crossed and fixed below the price chart. In this case, the cloud turned over from ascending to descending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest resistance is the level 184.100. The closest support is the level 183.150

Key levels

• 185.000, 184.610, 184.100, 183.150, 182.500, 181.720

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 184.100, with Take Profit of 184.610 and Stop Loss of 183.650

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 183.150, with Take Profit of 182.500 and Stop Loss of 183.650