Technical analysis GBPJPY for 02.07.2024
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 ascending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest support is the level 203.900. The closest resistance is the level 204.600
Key levels
- 205.150, 204.600, 203.900, 203.400, 202.750
Trading scenario
- Recommended opening long positions (Buy Limit) from the level of 203.900, with Take Profit of 204.600 and Stop Loss of 203.400
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 203.400, with Take Profit of 202.750 and Stop Loss of 203.900
Scenario
Recommendation
BUY LIMIT
Entry Point
203.900
Take Profit
204.600
Stop Loss
203.400
Key Levels
205.150, 204.600, 203.900, 203.400, 202.750
Alternative scenario
Recommendation
SELL STOP
Entry Point
203.400
Take Profit
202.750
Stop Loss
203.900
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.