Technical analysis USDJPY for 14.03.2022

The Tenkan-sen line is located above the Kijun-sen line. Red is directed upwards, while blue remains horizontal. Confirmatory line Chikou Span is above the price chart. In this case, the cloud is ascending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest resistance is the level 117.80. The closest resistance is the level 117.50

Key levels

• 119.00, 118.50, 117.80, 117.50, 117.05, 116.55, 116.15, 115.75, 115.25, 114.80, 114.40

Trading scenario

• Recommended opening long positions (Buy) at the current price, with Take Profit of 118.50 and Stop Loss of 117.50

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 117.50, with Take Profit of 116.55 and Stop Loss of 117.80