Technical analysis GBPJPY for 14.03.2024

The Tenkan-sen line is located above the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span crossed and fixed below the price chart. In this case, the cloud is descending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest support is the level 188.700. The closest resistance is the level 189.350

Key levels

• 190.100, 189.350, 188.700, 187.900, 187.050

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 189.350, with Take Profit of 190.100 and Stop Loss of 188.700

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 188.700, with Take Profit of 187.900 and Stop Loss of 189.350