Technical analysis CHFJPY for 23.08.2023

The Tenkan-sen line is located above the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span crosses from top to bottom the price chart. In this case, the cloud is ascending. Instrument is traded between Tenkan-se and Kijun-sen lines. The closest resistance is the level 166.470. The closest support is the level 164.720

Key levels

• 167.650, 166.980, 166.470, 164.720, 163.880, 162.780

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 166.470, with Take Profit of 166.980 and Stop Loss of 165.550

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 164.720, with Take Profit of 163.880 and Stop Loss of 165.550