Technical analysis CHFJPY for 14.07.2023

The Tenkan-sen line is located above the Kijun-sen line. Red is directed upwards, while blue remains horizontal. Confirmatory line Chikou Span crossed and fixed above the price chart. In this case, the cloud is ready to roll over from descending to ascending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest support is the level 160.400. The closest resistance is the level 161.150

Key levels

• 161.800, 161.150, 160.400, 159.775, 158.975

Trading scenario

• Recommended opening long positions (Buy Limit) from the level of 160.400, with Take Profit of 161.150 and Stop Loss of 159.775

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 159.775, with Take Profit of 158.975 and Stop Loss of 160.400