Technical analysis USDJPY for 25.01.2024

The Tenkan-sen line is located below 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 below the Tenkan-se and Kijun-sen lines. The closest resistance is the level 148.970. The closest support is the level 146.900

Key levels

• 150.350, 149.630, 148.970, 146.900, 145.880, 144.550

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 148.970, with Take Profit of 149.630 and Stop Loss of 147.850

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 146.900, with Take Profit of 145.880 and Stop Loss of 147.850