Technical analysis GBPJPY for 02.05.2024

The Tenkan-sen line is located above the Kijun-sen line. Both lines are directed downward. Confirmatory line Chikou Span is below the price chart. In this case, the cloud is ascending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest support is the level 193.550. The closest resistance is the level 194.550

Key levels

• 196.000, 195.150, 194.550, 193.550, 192.900

Trading scenario

• Recommended opening short positions (Sell Limit) from the level of 194.550, with Take Profit of 193.550 and Stop Loss of 195.150

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 195.150, with Take Profit of 196.000 and Stop Loss of 194.550