Technical analysis GBPJPY for 06.05.2022
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 159.90. The closest resistance is the level 161.25
Key levels
- 168.40, 166.15, 164.80, 163.75, 162.60, 161.25, 159.90, 159.00
Trading scenario
- Recommended opening short positions (Sell Limit) from the level of 161.25, with Take Profit of 159.00 and Stop Loss of 162.60
Alternative scenario
- Recommended opening long positions (Buy Stop) from the level of 162.25, with Take Profit of 164.80 and Stop Loss of 161.25
Scenario
Recommendation
SELL LIMIT
Entry Point
161.25
Take Profit
159.00
Stop Loss
162.60
Key Levels
168.40, 166.15, 164.80, 163.75, 162.60, 161.25, 159.90, 159.00
Alternative scenario
Recommendation
BUY STOP
Entry Point
162.25
Take Profit
164.80
Stop Loss
161.25
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.