Technical analysis USDJPY for 06.04.2023

The Tenkan-sen line is located above 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 ascending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest resistance is the level 131.320. The closest support is the level 130.580

Key levels

• 132.230, 131.730, 131.320, 130.580, 130.140, 129.650

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 131.320, with Take Profit of 131.730 and Stop Loss of 130.950

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 130.580, with Take Profit of 130.140 and Stop Loss of 130.950