Technical analysis GBPJPY for 17.10.2022
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 165.500. The closest resistance is the level 167.100

Key levels
- 168.700, 167.100, 165.500, 163.400, 160.800
Trading scenario
- Recommended opening long positions (Buy Stop) from the level of 167.100, with Take Profit of 168.700 and Stop Loss of 165.500
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 165.500, with Take Profit of 163.400 and Stop Loss of 167.100