Technical analysis GBPJPY for 16.05.2024

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 traded between Tenkan-se and Kijun-sen lines. The closest support is the level 195.900. The closest resistance is the level 197.000

Key levels

• 198.100, 197.000, 195.900, 195.400, 194.600

Trading scenario

• Recommended opening long positions (Buy Limit) from the level of 195.900, with Take Profit of 197.000 and Stop Loss of 195.400

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 195.400, with Take Profit of 194.600 and Stop Loss of 195.900