Technical analysis GBPJPY for 17.05.2022
The Tenkan-sen line crosses bottom upward the Kijun-sen line. Red is directed upwards, while blue remains horizontal. Confirmatory line Chikou Span is below the price chart
The Tenkan-sen line crosses bottom upward the Kijun-sen line. Red is directed upwards, while blue remains horizontal. Confirmatory line Chikou Span is below the price chart. In this case, the cloud is descending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest resistance is the level 160.300. The closest support is the level 159.320
Key levels
- 161.430, 160.930, 160.300, 159.320, 158.860, 158.310
Trading scenario
- Recommended opening long positions (Buy Stop) from the level of 160.300, with Take Profit of 160.930 and Stop Loss of 159.800
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 159.320, with Take Profit of 158.860 and Stop Loss of 159.800
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.