Technical analysis GBPJPY for 02.07.2024

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