Technical analysis USDJPY for 08.08.2022

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 descending. Instrument adjusted to the upper border of the cloud. The closest support is the level 134.75. The closest resistance is the level 135.77

Key levels

• 137.42, 135.77, 134.75, 133.92, 133.10, 132.06, 130.70

Trading scenario

• Recommended opening short positions (Sell Stop) from the level of 134.75, with Take Profit of 133.10 and Stop Loss of 135.77

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 135.77, with Take Profit of 137.42 and Stop Loss of 134.75