Technical analysis USDJPY for 20.01.2023
The Tenkan-sen line is located below the Kijun-sen line. Red is directed downward, while blue remains horizontal. Confirmatory line Chikou Span crosses from top to bottom the price chart
The Tenkan-sen line is located below the Kijun-sen line. Red is directed downward, while blue remains horizontal. Confirmatory line Chikou Span crosses from top to bottom 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 129.160. The closest support is the level 127.840
Key levels
- 131.010, 130.400, 129.160, 127.840, 127.060, 126.360
Trading scenario
- Recommended opening long positions (Buy Stop) from the level of 129.160, with Take Profit of 130.400 and Stop Loss of 128.400
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 127.840, with Take Profit of 127.060 and Stop Loss of 128.400
Nikolai Krishtopov is a Market Analyst at Investizo with more than 15 years of experience in the financial markets industry and over a decade of trading experience. His areas of focus include forex and crypto markets, technical analysis, intraday trading and market behaviour.