Technical analysis GBPJPY for 22.11.2023

The Tenkan-sen line is located below the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span is below the price chart. In this case, the cloud is descending. Instrument is traded between Tenkan-se and Kijun-sen lines. The closest support is the level 185.525. The closest resistance is the level 186.450

Key levels

• 187.250, 186.450, 185.525, 185.000, 184.250

Trading scenario

• Recommended opening long positions (Buy Limit) from the level of 185.525, with Take Profit of 186.450 and Stop Loss of 185.000

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 185.000, with Take Profit of 184.250 and Stop Loss of 185.525