Technical analysis USDJPY for 08.07.2022

The Tenkan-sen line is located above the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span crossed and fixed above the price chart. In this case, the cloud is descending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest support is the level 135.85. The closest resistance is the level 136.15

Key levels

• 137.00, 136.60, 136.15, 135.85, 135.15, 134.75

Trading scenario

• Recommended opening short positions (Sell Stop) from the level of 135.85, with Take Profit of 135.15 and Stop Loss of 136.15

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 136.15, with Take Profit of 136.60 and Stop Loss of 135.85