Technical analysis GBPJPY for 18.09.2023

The Tenkan-sen line is located below the Kijun-sen line. Red is directed downward, while blue remains horizontal. Confirmatory line Chikou Span is below the price chart. In this case, the cloud is descending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest resistance is the level 183.550. The closest support is the level 182.500

Key levels

• 184.610, 184.100, 183.550, 182.500, 181.720, 181.090

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 183.550, with Take Profit of 184.100 and Stop Loss of 183.000

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 182.500, with Take Profit of 181.720 and Stop Loss of 183.000