Technical analysis USDJPY for 11.04.2022

The Tenkan-sen line is located above the Kijun-sen line. Both lines are 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 support is the level 124.250. The closest resistance is the level 125.175

Key levels

• 126.350, 125.175, 124.250, 123.300, 122.350, 121.475

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 125.175, with Take Profit of 126.350 and Stop Loss of 124.250

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 123.300, with Take Profit of 122.350 and Stop Loss of 123.975