Technical analysis USDJPY for 28.03.2022

The Tenkan-sen line is located above the Kijun-sen line. Both lines are directed upwards. 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 support is the level 123.15. The closest resistance is the level 123.80

Key levels

• 125.75, 124.65, 123.80, 123.15, 122.50, 121.60, 120.82, 120.00

Trading scenario

• Recommended opening short positions (Buy Limit) from the level of 123.80, with Take Profit of 124.65 and Stop Loss of 123.15

Alternative scenario

• Recommended opening short positions (Sell Limit) from the level of 123.15, with Take Profit of 121.60 and Stop Loss of 122.50