Technical analysis CHFJPY for 30.08.2023

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 168.420. The closest support is the level 164.950

Key levels

• 170.860, 168.420, 164.950, 162.290, 159.650

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 168.420, with Take Profit of 170.860 and Stop Loss of 166.700

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 164.950, with Take Profit of 162.290 and Stop Loss of 166.700