Technical analysis CHFJPY for 07.06.2023

The Tenkan-sen line is located above the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span crossed and fixed above the price chart. In this case, the cloud is descending. Instrument is traded between Tenkan-se and Kijun-sen lines. The closest support is the level 153.625. The closest resistance is the level 154.375

Key levels

• 155.150, 154.375, 153.625, 152.850, 151.975

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 154.375, with Take Profit of 155.150 and Stop Loss of 153.625

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 153.625, with Take Profit of 152.850 and Stop Loss of 154.375