Technical analysis GBPJPY for 03.10.2023
Intraday
Technical
Tenkan-sen and Kijun-sen lines are merged. Both lines are horizontal. Confirmatory line Chikou Span crossed and fixed below the price chart
Tenkan-sen and Kijun-sen lines are merged. Both lines are horizontal. Confirmatory line Chikou Span crossed and fixed below the price chart. In this case, the cloud is descending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest support is the level 180.525. The closest resistance is the level 181.375
Key levels
- 182.500, 181.900, 181.375, 180.525, 179.750
Trading scenario
- Recommended opening short positions (Sell Limit) from the level of 181.375, with Take Profit of 180.525 and Stop Loss of 181.900
Alternative scenario
- Recommended opening long positions (Buy Stop) from the level of 181.900, with Take Profit of 182.500 and Stop Loss of 181.375
Scenario
Recommendation
SELL LIMIT
Entry Point
181.375
Take Profit
180.525
Stop Loss
181.900
Key Levels
182.500, 181.900, 181.375, 180.525, 179.750
Alternative scenario
Recommendation
BUY STOP
Entry Point
181.900
Take Profit
182.500
Stop Loss
181.375
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.