Technical analysis USDJPY for 01.12.2021

The Tenkan-sen line is located below the Kijun-sen line. Red is directed downward, while blue remains horizontal. Confirmatory line Chikou Span is below the price chart. In this case, the cloud is descending. Instrument is traded between Tenkan-se and Kijun-sen lines. The closest support and resistance levels are Tenkan-se and Kijun-sen, respectively. The closest support and resistance levels are Tenkan-se and Kijun-sen, respectively

Key levels

• 115.500, 114.500, 114.000, 113.050, 112.300,111.500

Trading scenario

• Recommended opening short positions (Sell Stop) from the level of 112.860, with Take Profit of 112.300 and Stop Loss of 113.610

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 114.350, with Take Profit of 114.500 and Stop Loss of 114.000