Technical analysis AUDJPY for 20.01.2023

The Tenkan-sen line is located below the Kijun-sen line. Both lines are directed downward. Confirmatory line Chikou Span is below the price chart. In this case, the cloud turned over from ascending to descending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest resistance is the level 89.190. The closest support is the level 88.120

Key levels

• 90.210, 89.730, 89.190, 88.120, 87.420, 86.850

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 89.190, with Take Profit of 89.730 and Stop Loss of 88.600

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 88.120, with Take Profit of 87.420 and Stop Loss of 88.600