Technical analysis USDJPY for 20.02.2023
Intraday
Technical
The Tenkan-sen line is located above the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span is above the price chart
The Tenkan-sen line is located above the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span is above the price chart. In this case, the cloud is ascending. Instrument is traded between Tenkan-se and Kijun-sen lines. The closest resistance is the level 134.830. The closest support is the level 133.880
Key levels
- 136.640, 135.710, 134.830, 133.880, 133.110, 132.190
Trading scenario
- Recommended opening long positions (Buy Stop) from the level of 134.830, with Take Profit of 135.710 and Stop Loss of 134.350
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 133.880, with Take Profit of 133.110 and Stop Loss of 134.350
Scenario
Recommendation
BUY STOP
Entry Point
134.830
Take Profit
135.710
Stop Loss
134.350
Key Levels
136.640, 135.710, 134.830, 133.880, 133.110, 132.190
Alternative scenario
Recommendation
SELL STOP
Entry Point
133.880
Take Profit
133.110
Stop Loss
134.350
Author
Nikolai Krishtopov
Market Analyst & Marketing Manager, Investizo
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.