Technical analysis GBPJPY for 16.12.2022
Intraday
Technical
The Tenkan-sen line is located below the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span is above the price chart
The Tenkan-sen line is located below 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 trading below the Tenkan-se and Kijun-sen lines. The closest support is the level 167.575. The closest resistance is the level 168.300
Key levels
- 169.125, 168.300, 167.575, 166.950, 166.000
Trading scenario
- Recommended opening long positions (Buy Limit) from the level of 167.575, with Take Profit of 168.300 and Stop Loss of 166.950
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 166.950, with Take Profit of 166.000 and Stop Loss of 167.575
Scenario
Recommendation
BUY LIMIT
Entry Point
167.575
Take Profit
168.300
Stop Loss
166.950
Key Levels
169.125, 168.300, 167.575, 166.950, 166.000
Alternative scenario
Recommendation
SELL STOP
Entry Point
166.950
Take Profit
166.000
Stop Loss
167.575
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.