Technical analysis CHFJPY for 25.05.2023
Intraday
Technical
Tenkan-sen and Kijun-sen lines are merged. Both lines are horizontal. Confirmatory line Chikou Span is above the price chart
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 support is the level 153.600. The closest resistance is the level 154.400
Key levels
- 155.100, 154.400, 153.600, 152.925, 152.100
Trading scenario
- Recommended opening long positions (Buy Limit) from the level of 153.600, with Take Profit of 154.400 and Stop Loss of 152.925
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 152.925, with Take Profit of 152.100 and Stop Loss of 153.600
Scenario
Recommendation
BUY LIMIT
Entry Point
153.600
Take Profit
154.400
Stop Loss
152.925
Key Levels
155.100, 154.400, 153.600, 152.925, 152.100
Alternative scenario
Recommendation
SELL STOP
Entry Point
152.925
Take Profit
152.100
Stop Loss
153.600
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.