Technical analysis USDJPY for 13.03.2023

The Tenkan-sen line is located below the Kijun-sen line. Both lines are directed downward. 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 resistance is the level 135.280. The closest support is the level 134.030

Key levels

• 136.790, 136.050, 135.280, 134.030, 133.100, 132.190

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 135.280, with Take Profit of 136.050 and Stop Loss of 134.550

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 134.030, with Take Profit of 133.100 and Stop Loss of 134.550