Technical analysis AUDJPY for 31.01.2023

Tenkan-sen and Kijun-sen lines are merged. Both lines are horizontal. Confirmatory line Chikou Span is above the price chart. In this case, the cloud is ascending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest support is the level 91.925. Strong resistance is the merged Tenkan-se and Kijun-sen lines

Key levels

• 93.275, 92.650, 91.925, 91.425, 90.925

Trading scenario

• Recommended opening long positions (Buy Limit) from the level of 91.925, with Take Profit of 92.650 and Stop Loss of 91.425

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 91.425, with Take Profit of 90.925 and Stop Loss of 91.925