Technical analysis USDJPY for 06.04.2023
The Tenkan-sen line is located above the Kijun-sen line. Red is directed downward, while blue remains horizontal. Confirmatory line Chikou Span is below the price chart
The Tenkan-sen line is located above 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 ascending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest resistance is the level 131.320. The closest support is the level 130.580
Key levels
- 132.230, 131.730, 131.320, 130.580, 130.140, 129.650
Trading scenario
- Recommended opening long positions (Buy Stop) from the level of 131.320, with Take Profit of 131.730 and Stop Loss of 130.950
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 130.580, with Take Profit of 130.140 and Stop Loss of 130.950
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.