Technical analysis NZDJPY for 28.10.2022

Tenkan-sen and Kijun-sen lines are merged. Both lines are 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 support is the level 85.075. The closest resistance is the level 85.500

Key levels

• 86.050, 85.500, 85.075, 84.700, 84.275

Trading scenario

• Recommended opening long positions (Buy Limit) from the level of 85.075, with Take Profit of 85.500 and Stop Loss of 84.700

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 84.700, with Take Profit of 84.275 and Stop Loss of 85.075