Technical analysis AUDJPY for 31.03.2023

The Tenkan-sen line is located above the Kijun-sen line. Both lines are directed upwards. 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 support is the level 88.825. The closest resistance is the level 89.175

Key levels

• 90.025, 89.625, 89.175, 88.825, 88.425, 87.800

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 89.175, with Take Profit of 89.625 and Stop Loss of 88.825

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 88.825, with Take Profit of 88.425 and Stop Loss of 89.175