Technical analysis GBPJPY for 27.03.2024

The Tenkan-sen line is located below the Kijun-sen line. Red is directed upwards, while blue remains horizontal. 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 191.000. The closest resistance is the level 191.500

Key levels

• 192.200, 191.500, 191.000, 190.400, 189.750

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 191.500, with Take Profit of 192.200 and Stop Loss of 191.000

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 191.000, with Take Profit of 190.400 and Stop Loss of 191.500