Technical analysis GBPJPY for 08.09.2023
The Tenkan-sen line is located below the Kijun-sen line. Red is directed downward, while blue remains horizontal. Confirmatory line Chikou Span crossed and fixed below the price chart
The Tenkan-sen line is located below the Kijun-sen line. Red is directed downward, while blue remains horizontal. Confirmatory line Chikou Span crossed and fixed below the price chart. In this case, the cloud turned over from ascending to descending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest resistance is the level 184.100. The closest support is the level 183.150
Key levels
- 185.000, 184.610, 184.100, 183.150, 182.500, 181.720
Trading scenario
- Recommended opening long positions (Buy Stop) from the level of 184.100, with Take Profit of 184.610 and Stop Loss of 183.650
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 183.150, with Take Profit of 182.500 and Stop Loss of 183.650
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.