Technical analysis GBPJPY for 04.10.2024

The Tenkan-sen line is located above the Kijun-sen line. Both lines are directed upwards. Confirmatory line Chikou Span is above the price chart. In this case, the cloud turned over from descending to ascending. Instrument is trading above the Tenkan-se and Kijun-sen lines

Key levels

• 188.370, 189.801, 191.828, 193.577, 195.882

Trading scenario

Recommended opening long positions (Buy Limit) from the level of 191.828, with Take Profit of 195.882 and Stop Loss of 189.801

Alternative scenario

Recommended opening short positions (Sell Limit) from the level of 193.577, with Take Profit of 188.370 and Stop Loss of 195.882