Technical analysis USDJPY for 20.10.2022

The Tenkan-sen line is located above the Kijun-sen line. Both lines are directed upwards. 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 support is the level 149.250. The closest resistance is the level 150.450

Key levels

• 151.750, 150.450, 149.250, 147.725, 145.825

Trading scenario

• Recommended opening long positions (Buy) at the current price, with Take Profit of 150.450 and Stop Loss of 149.250

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 149.250, with Take Profit of 147.725 and Stop Loss of 150.450