Technical analysis USDJPY for 03.03.2023

The Tenkan-sen line is located below the Kijun-sen line. Blue is directed upwards, while red 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 137.040. The closest support is the level 135.870

Key levels

• 138.310, 137.700, 137.040, 135.870, 135.280, 134.650

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 137.040, with Take Profit of 137.700 and Stop Loss of 136.500

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 135.870, with Take Profit of 135.280 and Stop Loss of 136.500