Technical analysis GBPJPY for 31.08.2023
Intraday
Technical
The Tenkan-sen line is located above the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span is above the price chart
The Tenkan-sen line is located above the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span is above the price chart. In this case, the cloud is descending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest resistance is the level 186.260. The closest support is the level 185.130
Key levels
- 187.000, 186.650, 186.260, 185.130, 184.610, 184.100
Trading scenario
- Recommended opening long positions (Buy Stop) from the level of 186.260, with Take Profit of 186.650 and Stop Loss of 185.700
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 185.130, with Take Profit of 184.610 and Stop Loss of 185.700
Scenario
Recommendation
BUY STOP
Entry Point
186.260
Take Profit
186.650
Stop Loss
185.700
Key Levels
187.000, 186.650, 186.260, 185.130, 184.610, 184.100
Alternative scenario
Recommendation
SELL STOP
Entry Point
185.130
Take Profit
184.610
Stop Loss
185.700
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.