Technical analysis GBPJPY for 05.09.2023
The Tenkan-sen line is located below the Kijun-sen line. Red is directed upwards, while blue remains horizontal. Confirmatory line Chikou Span crosses bottom upward the price chart
The Tenkan-sen line is located below the Kijun-sen line. Red is directed upwards, while blue remains horizontal. Confirmatory line Chikou Span crosses bottom upward 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 185.300. The closest support is the level 184.610
Key levels
- 186.260, 185.690, 185.300, 184.610, 184.100, 183.650
Trading scenario
- Recommended opening long positions (Buy Stop) from the level of 185.300, with Take Profit of 185.690 and Stop Loss of 184.950
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 184.610, with Take Profit of 184.100 and Stop Loss of 184.950
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.