Technical analysis USDJPY for 07.02.2023

The Tenkan-sen line is located above 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 is ascending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest resistance is the level 133.030. The closest support is the level 131.950

Key levels

• 134.540, 133.800, 133.030, 131.950, 131.200, 130.440

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 133.030, with Take Profit of 133.800 and Stop Loss of 132.500

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 131.950, with Take Profit of 131.200 and Stop Loss of 132.500