Technical analysis NZDJPY for 16.09.2022

The Tenkan-sen line is located below the Kijun-sen line. Both lines are directed downward. Confirmatory line Chikou Span is below the price chart. In this case, the cloud is descending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest support is the level 85.075. The closest resistance is the level 85.600

Key levels

• 86.750, 86.050, 85.600, 85.075, 84.700

Trading scenario

• Recommended opening short positions (Sell Limit) from the level of 85.600, with Take Profit of 85.075 and Stop Loss of 86.050

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 86.050, with Take Profit of 86.750 and Stop Loss of 85.600