Technical analysis USDJPY for 01.04.2022

The Tenkan-sen line is located below the Kijun-sen line. Red is directed up, while blue is directed down. Confirmatory line Chikou Span crosses from top to bottom the price chart. In this case, the cloud is ready to roll over from ascending to descending. Instrument entered the cloud. The closest support is the level 122.25. The closest resistance is the level 123.30

Key levels

• 125.10, 124.20, 123.30, 122.25, 121.35, 120.50, 119.45, 117.75

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 123.30, with Take Profit of 125.10 and Stop Loss of 122.25

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 122.25, with Take Profit of 120.50 and Stop Loss of 123.30