Technical analysis USDJPY for 17.01.2022

The Tenkan-sen line is located below the Kijun-sen line. Red is directed upwards, 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 is the level 114.300. The closest resistance is the level 114.625

Key levels

• 116.250, 115.800, 115.450, 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 114.300, with Take Profit of 114.025 and Stop Loss of 114.490

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 114.625, with Take Profit of 114.900 and Stop Loss of 114.350