Technical analysis CHFJPY for 25.10.2023

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 corrected to the Tenkan-se line. The closest resistance is the level 168.415. The closest support is the level 166.715

Key levels

• 170.140, 169.370, 168.415, 166.715, 165.720, 165.100

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 168.415, with Take Profit of 169.370 and Stop Loss of 167.500

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 166.715, with Take Profit of 165.720 and Stop Loss of 167.500