Technical analysis USDJPY for 06.01.2023

The Tenkan-sen line is located below the Kijun-sen line. Red is directed upwards, while blue remains horizontal. Confirmatory line Chikou Span is above the price chart. In this case, the cloud turned over from descending to ascending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest resistance is the level 134.020. The closest support is the level 132.680

Key levels

• 135.090, 134.480, 134.020, 132.680, 132.010, 131.430

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 134.020, with Take Profit of 134.480 and Stop Loss of 133.370

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 132.680, with Take Profit of 132.010 and Stop Loss of 133.370