Technical analysis CHFJPY for 15.02.2024

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 traded between Tenkan-se and Kijun-sen lines. The closest resistance is the level 170.150. The closest support is the level 169.580

Key levels

• 170.890, 170.500, 170.150, 169.580, 169.290, 169.000

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 170.150, with Take Profit of 170.500 and Stop Loss of 169.900

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 169.580, with Take Profit of 169.290 and Stop Loss of 169.900