Technical analysis CHFJPY for 27.12.2023

The Tenkan-sen line is located above the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span is below 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 167.550. The closest support is the level 166.120

Key levels

• 168.800, 168.200, 167.550, 166.120, 165.380, 164.630

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 167.550, with Take Profit of 168.200 and Stop Loss of 166.800

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 166.120, with Take Profit of 165.380 and Stop Loss of 166.800