Technical analysis GBPJPY for 06.02.2024

The Tenkan-sen line is located above 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 trading below the Tenkan-se and Kijun-sen lines. The closest support is the level 185.825. The closest resistance is the level 186.975

Key levels

• 187.850, 186.975, 185.825, 185.175, 184.300

Trading scenario

• Recommended opening long positions (Buy Limit) from the level of 185.825, with Take Profit of 186.975 and Stop Loss of 185.175

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 185.175, with Take Profit of 184.300 and Stop Loss of 185.825