Technical analysis USDJPY for 14.01.2022

The Tenkan-sen line is located below the Kijun-sen line. Both lines are horizontal. 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 113.675. The closest resistance is the level 114.025

Key levels

• 116.250, 115.625, 115.175, 114.900, 114.625, 114.300, 114.025, 113.675, 113.325

Trading scenario

• Recommended opening short positions (Sell Stop) from the level of 113.675, with Take Profit of 113.325 and Stop Loss of 114.025

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 114.025, with Take Profit of 114.300 and Stop Loss of 113.800