GBP/JPY: Ichimoku clouds



Let's look at the four-hour chart. Tenkan-sen line is above Kijun-sen, the red line is directed upwards, while the blue one remains horizontal. Confirmative line Chikou Span is above the price chart, current cloud is ascending. The instrument is trading above Tenkan-sen and Kijun-sen lines; the Bullish trend is still strong. The closest support level is Tenkan-sen line (142.81). One of the previous maximums of Chikou Span line is expected to be a resistance level (143.10).




On the daily chart Tenkan-sen line is above Kijun-sen, the red line is directed upwards, while the blue one remains horizontal. Confirmative line Chikou Span is above the price chart, current cloud is ascending. The instrument is trading above Tenkan-sen and Kijun-sen lines; the Bullish trend is still strong. The closest support level is Tenkan-sen line (142.00). One of the previous maximums of Chikou Span line is expected to be a resistance level (143.15).


It is recommended to open long positions at current price with Take Profit at the level of previous maximum of Chikou Span (143.15) line and Stop Loss at the level of Kijun-sen line (142.60).

Scenario

  • Timeframe

    Weekly

  • Recommendation

    BUY

  • Entry Point

    142.85

  • Take Profit

    143.15

  • Stop Loss

    142.60

  • Key Levels

    142.00, 143.10

Tifia trading account

Open

GBP/JPY forecast for today.