Technical analysis GBPJPY for 04.07.2023
The Tenkan-sen line is located above the Kijun-sen line. Red is directed upwards, while blue remains horizontal. Confirmatory line Chikou Span crosses from top to bottom the price chart
The Tenkan-sen line is located above the Kijun-sen line. Red is directed upwards, while blue remains horizontal. Confirmatory line Chikou Span crosses from top to bottom the price chart. In this case, the cloud is ascending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest resistance is the level 186.000. The closest support is the level 182.800
Key levels
- 184.700, 485.500, 186.000, 182.800, 181.940, 181.180
Trading scenario
- Recommended opening long positions (Buy Stop) from the level of 186.000, with Take Profit of 485.500 and Stop Loss of 183.500
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 182.800, with Take Profit of 181.940 and Stop Loss of 183.500
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.