Technical analysis GBPJPY for 09.11.2023

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 ascending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest support is the level 185.050. The closest resistance is the level 185.700

Key levels

• 186.475, 185.700, 185.050, 184.400, 183.950

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 185.700, with Take Profit of 186.475 and Stop Loss of 185.050

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 185.050, with Take Profit of 184.400 and Stop Loss of 185.700