Technical analysis USDJPY for 04.01.2023

The Tenkan-sen line is located below the Kijun-sen line. Red is directed upwards, while blue remains horizontal. Confirmatory line Chikou Span is below 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 132.170. The closest support is the level 129.480

Key levels

• 134.480, 133.470, 132.170, 129.480, 128.190, 126.820

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 132.170, with Take Profit of 133.470 and Stop Loss of 130.850

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 129.480, with Take Profit of 128.190 and Stop Loss of 130.850