Technical analysis USDJPY for 09.11.2022

The Tenkan-sen line is located below the Kijun-sen line. Both lines are horizontal. 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 resistance is the level 146.380. The closest support is the level 145.200

Key levels

• 147.770, 147.160, 146.380, 145.200, 144.380, 143.500

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 146.380, with Take Profit of 147.160 and Stop Loss of 145.780

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 145.200, with Take Profit of 144.380 and Stop Loss of 145.780