Technical analysis USDJPY for 08.12.2022

The Tenkan-sen line is located above the Kijun-sen line. Red is directed upwards, while blue remains horizontal. Confirmatory line Chikou Span crosses bottom upward the price chart. In this case, the cloud is descending. Instrument is traded between Tenkan-se and Kijun-sen lines. The closest resistance is the level 137.630. The closest support is the level 135.670

Key levels

• 139.670, 138.720, 137.630, 135.670, 134.550, 133.520

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 137.630, with Take Profit of 138.720 and Stop Loss of 136.500

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 135.670, with Take Profit of 134.550 and Stop Loss of 136.500