Technical analysis USDJPY for 04.02.2022

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 ascending. Instrument adjusted to the upper border of the cloud. The closest support is the level 114.85. The closest resistance is the level 115.15

Key levels

• 117.00, 116.60, 116.15, 115.65, 115.15, 114.85, 114.65, 114.30, 114.00, 113.50

Trading scenario

• Recommended opening long positions (Buy Limit) from the level of 114.85, with Take Profit of 115.65 and Stop Loss of 114.60

Alternative scenario

• Recommended opening short positions (Sell Limit) from the level of 115.65, with Take Profit of 115.15 and Stop Loss of 116.15