Technical analysis CHFJPY for 30.08.2023
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 trading above the Tenkan-se and Kijun-sen lines. The closest resistance is the level 168.420. The closest support is the level 164.950
Key levels
- 170.860, 168.420, 164.950, 162.290, 159.650
Trading scenario
- Recommended opening long positions (Buy Stop) from the level of 168.420, with Take Profit of 170.860 and Stop Loss of 166.700
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 164.950, with Take Profit of 162.290 and Stop Loss of 166.700
Scenario
Recommendation
BUY STOP
Entry Point
168.420
Take Profit
170.860
Stop Loss
166.700
Key Levels
170.860, 168.420, 164.950, 162.290, 159.650
Alternative scenario
Recommendation
SELL STOP
Entry Point
164.950
Take Profit
162.290
Stop Loss
166.700
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.