Technical analysis CHFJPY for 22.02.2024

Tenkan-sen and Kijun-sen lines are merged. Both lines are 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 170.725. The closest resistance is the level 171.300

Key levels

• 171.800, 171.300, 170.724, 170.425, 169,925

Trading scenario

• Recommended opening long positions (Buy Limit) from the level of 170.725, with Take Profit of 171.300 and Stop Loss of 170.425

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 170.425, with Take Profit of 169,925 and Stop Loss of 170.725