Technical analysis NZDJPY for 25.08.2022

The Tenkan-sen line approaches above the Kijun-sen line. Red is directed downward, while blue remains horizontal. Confirmatory line Chikou Span crosses bottom upward the price chart. In this case, the cloud is ascending. Instrument adjusted to the Kijun-sen line. The closest resistance is the level 85.170. The closest support is the level 84.430

Key levels

• 86.120, 85.570, 85.170, 84.430, 83.950, 83.340

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 85.170, with Take Profit of 85.570 and Stop Loss of 84.800

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 84.430, with Take Profit of 83.950 and Stop Loss of 84.800