Technical analysis NZDJPY for 12.12.2022

The Tenkan-sen line is located above the Kijun-sen line. Both lines are directed downward. 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 87.200. The closest resistance is the level 87.650

Key levels

• 88.150, 87.650, 87.200, 86.625, 85.950

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 87.650, with Take Profit of 88.150 and Stop Loss of 87.200

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 87.200, with Take Profit of 86.625 and Stop Loss of 87.650