Technical analysis CHFJPY for 20.11.2023

The Tenkan-sen line is located above the Kijun-sen line. Red points downwards while blue points upwards. Confirmatory line Chikou Span is above the price chart. In this case, the cloud is ascending. Instrument adjusted to the Kijun-sen line. The closest resistance is the level 169.580. The closest support is the level 168.200

Key levels

• 170.720, 170.150, 169.580, 168.200, 167.550, 166.710

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 169.580, with Take Profit of 170.150 and Stop Loss of 169.000

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 168.200, with Take Profit of 167.550 and Stop Loss of 169.000