Technical analysis USDJPY for 17.01.2024

The Tenkan-sen line is located above the Kijun-sen line. Red is directed upwards, while blue remains horizontal. Confirmatory line Chikou Span is above 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 148.200. The closest support is the level 145.880

Key levels

• 149.630, 148.970, 148.200, 145.880, 144.550, 143.430

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 148.200, with Take Profit of 148.970 and Stop Loss of 147.120

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 145.880, with Take Profit of 144.550 and Stop Loss of 147.120