Technical analysis GBPJPY for 06.10.2023

The Tenkan-sen line is located above the Kijun-sen line. Red is directed upwards, while blue remains horizontal. Confirmatory line Chikou Span is below the price chart. In this case, the cloud is ready to roll over from descending to ascending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest support is the level 180.826. The closest resistance is the level 181.150

Key levels

• 182.425, 181.725, 181.150, 180.826, 180.325

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 181.150, with Take Profit of 181.725 and Stop Loss of 180.826

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 180.826, with Take Profit of 180.325 and Stop Loss of 181.150