Technical analysis GBPJPY for 11.09.2024

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 185.600. The closest resistance is the level 186.850

Key levels

• 188.800, 187.600, 186.850, 185.600, 184.700

Trading scenario

• Recommended opening short positions (Sell Stop) from the level of 186.850, with Take Profit of 185.600 and Stop Loss of 187.600

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 187.600, with Take Profit of 188.800 and Stop Loss of 186.850