Technical analysis NZDJPY for 21.02.2023

The Tenkan-sen line is located below the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span crossed and fixed below the price chart. In this case, the cloud is ascending. Instrument is traded between Tenkan-se and Kijun-sen lines. The closest support is the level 83.750. The closest resistance is the level 84.050

Key levels

• 84.700, 84.400, 84.050, 83.750, 83.400

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 84.050, with Take Profit of 84.400 and Stop Loss of 83.750

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 83.750, with Take Profit of 83.400 and Stop Loss of 84.050