Technical analysis AUDJPY for 07.03.2023

The Tenkan-sen line is located below the Kijun-sen line. Red is directed downward, while blue remains 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 91.150. The closest resistance is the level 91.475

Key levels

• 92.050, 91.750, 91.475, 91.150. 90.675

Trading scenario

• Recommended opening short positions (Sell Stop) from the level of 91.475, with Take Profit of 91.150 and Stop Loss of 91.750

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 91.750, with Take Profit of 92.050 and Stop Loss of 91.475