Technical analysis AUDJPY for 08.02.2023

The Tenkan-sen line is located above the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span is below the price chart. In this case, the cloud is descending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest support is the level 91.000. The closest resistance is the level 91.450

Key levels

• 92.050, 91.450, 91.000, 90.500, 89.850

Trading scenario

• Recommended opening short positions (Sell Stop) from the level of 91.000, with Take Profit of 90.500 and Stop Loss of 91.450

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 91.450, with Take Profit of 92.050 and Stop Loss of 91.000