Technical analysis GBPJPY for 19.07.2023

The Tenkan-sen line is located above the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span crossed and fixed above the price chart. In this case, the cloud is descending. Instrument is traded between Tenkan-se and Kijun-sen lines. The closest support is the level 180.550. The closest resistance is the level 181.650

Key levels

• 182.550, 181.650, 180.550, 179.850, 179.000

Trading scenario

• Recommended opening long positions (Buy Limit) from the level of 180.550, with Take Profit of 181.650 and Stop Loss of 179.850

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 179.850, with Take Profit of 179.000 and Stop Loss of 180.550