Technical analysis GBPJPY for 06.02.2024
Intraday
Technical
The Tenkan-sen line is located above the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span is below the price chart
The Tenkan-sen line is located above the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span is 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 185.825. The closest resistance is the level 186.975
Key levels
- 187.850, 186.975, 185.825, 185.175, 184.300
Trading scenario
- Recommended opening long positions (Buy Limit) from the level of 185.825, with Take Profit of 186.975 and Stop Loss of 185.175
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 185.175, with Take Profit of 184.300 and Stop Loss of 185.825
Scenario
Recommendation
BUY LIMIT
Entry Point
185.825
Take Profit
186.975
Stop Loss
185.175
Key Levels
187.850, 186.975, 185.825, 185.175, 184.300
Alternative scenario
Recommendation
SELL STOP
Entry Point
185.175
Take Profit
184.300
Stop Loss
185.825
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.