Technical analysis GBPJPY for 16.08.2022
The Tenkan-sen line is located below the Kijun-sen line. Both lines are directed downward. 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 160.40. The closest resistance is the level 161.10

Key levels
- 163.90, 162.90, 162.20, 161.65, 16110, 160.40, 159.50
Trading scenario
- Recommended opening short positions (Sell Stop) from the level of 160.40, with Take Profit of 159.50 and Stop Loss of 161.10
Alternative scenario
- Recommended opening long positions (Buy Stop) from the level of 161.10, with Take Profit of 162.20 and Stop Loss of 160.40