Technical analysis CHFJPY for 21.09.2023

The Tenkan-sen line is located above the Kijun-sen line. Blue is directed upwards, while red remains horizontal. Confirmatory line Chikou Span is above the price chart. In this case, the cloud turned over from descending to ascending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest resistance is the level 165.400. The closest support is the level 164.300

Key levels

• 166.070, 165.720, 165.400, 164.300, 163.850, 163.300

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 165.400, with Take Profit of 165.720 and Stop Loss of 164.900

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 164.300, with Take Profit of 163.850 and Stop Loss of 164.900