Technical analysis GBPJPY for 07.03.2023
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 turned over from ascending to descending. Instrument is traded between Tenkan-se and Kijun-sen lines. The closest support is the level 163.000. The closest resistance is the level 163.700
Key levels
- 164.900, 164.250, 163.700, 163.000, 162.200
Trading scenario
- Recommended opening short positions (Sell Limit) from the level of 163.700, with Take Profit of 163.000 and Stop Loss of 164.250
Alternative scenario
- Recommended opening long positions (Buy Stop) from the level of 164.250, with Take Profit of 164.900 and Stop Loss of 163.700
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.