Technical analysis GBPJPY for 10.05.2022
Intraday
Technical
The Tenkan-sen line is located below the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span is below the price chart
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 trading below the Tenkan-se and Kijun-sen lines. The closest support is the level 159.950. The closest resistance is the level 160.850
Key levels
- 164.450, 163.225, 162.050, 160.850, 159.950, 158.725
Trading scenario
- Recommended opening short positions (Sell Stop) from the level of 159.950, with Take Profit of 158.725 and Stop Loss of 160.850
Alternative scenario
- Recommended opening long positions (Buy Stop) from the level of 160.850, with Take Profit of 162.050 and Stop Loss of 159.950
Scenario
Recommendation
SELL STOP
Entry Point
159.950
Take Profit
158.725
Stop Loss
160.850
Key Levels
164.450, 163.225, 162.050, 160.850, 159.950, 158.725
Alternative scenario
Recommendation
BUY STOP
Entry Point
160.850
Take Profit
162.050
Stop Loss
159.950
Author
Nikolai Krishtopov
Market Analyst & Marketing Manager, Investizo
Nikolai Krishtopov is a Market Analyst at Investizo with more than 15 years of experience in the financial markets industry and over a decade of trading experience. His areas of focus include forex and crypto markets, technical analysis, intraday trading and market behaviour.