Technical analysis CHFJPY for 09.10.2023

The Tenkan-sen line is located above the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span crosses bottom upward 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 164.300. The closest support is the level 163.180

Key levels

• 165.720, 165.100, 164.300, 163.180, 162.380, 161.350

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 164.300, with Take Profit of 165.100 and Stop Loss of 163.750

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 163.180, with Take Profit of 162.380 and Stop Loss of 163.750