Technical analysis CHFJPY for 16.06.2023

The Tenkan-sen line is located above the Kijun-sen line. Both lines are 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 159.210. The closest support is the level 155.380

Key levels

• 158.020, 158.670, 159.210, 155.380, 154.230, 153.440

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 159.210, with Take Profit of 158.670 and Stop Loss of 156.820

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 155.380, with Take Profit of 154.230 and Stop Loss of 156.820