Technical analysis CADJPY for 19.10.2022

The Tenkan-sen line is located above the Kijun-sen line. Blue is directed upwards, while red remains 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 resistance is the level 108.830. The closest support is the level 108.080

Key levels

• 109.970, 109.400, 108.830, 108.080, 107.560, 106.990

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 108.830, with Take Profit of 109.400 and Stop Loss of 108.450

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 108.080, with Take Profit of 107.560 and Stop Loss of 108.450