Technical analysis NZDJPY for 11.01.2023

The Tenkan-sen line is located above the Kijun-sen line. Both lines are horizontal. 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 83.925. The closest resistance is the level 84.325

Key levels

• 85.250, 84.750, 84.325, 83.925, 83.500

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 84.325, with Take Profit of 84.750 and Stop Loss of 83.925

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 83.925, with Take Profit of 83.500 and Stop Loss of 84.325