Technical analysis USDJPY for 02.02.2024

The Tenkan-sen line is located below the Kijun-sen line. Red is directed downward, while blue remains horizontal. Confirmatory line Chikou Span is below the price chart. In this case, the cloud is descending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest resistance is the level 146.900. The closest support is the level 145.700

Key levels

• 148.700, 147.675, 146.900, 145.700, 145.160, 144.550

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 146.900, with Take Profit of 147.675 and Stop Loss of 146.400

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 145.700, with Take Profit of 145.160 and Stop Loss of 146.400