Technical analysis GBPJPY for 12.04.2022
Intraday
Technical
Tenkan-sen and Kijun-sen lines are merged. Both lines are horizontal. Confirmatory line Chikou Span is above the price chart
Tenkan-sen and Kijun-sen lines are merged. Both lines are horizontal. Confirmatory line Chikou Span is above the price chart. In this case, the cloud is ascending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest support is the level 162.65. The closest resistance is the level 163.75
Key levels
- 164.65, 163.75, 162.65, 162.25, 161.45, 160.50, 159.50, 158.20
Trading scenario
- Recommended opening long positions (Buy Limit) from the level of 162.65, with Take Profit of 163.75 and Stop Loss of 162.25
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 162.25, with Take Profit of 161.45 and Stop Loss of 162.65
Scenario
Recommendation
BUY LIMIT
Entry Point
162.65
Take Profit
163.75
Stop Loss
162.25
Key Levels
164.65, 163.75, 162.65, 162.25, 161.45, 160.50, 159.50, 158.20
Alternative scenario
Recommendation
SELL STOP
Entry Point
162.25
Take Profit
161.45
Stop Loss
162.65
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.