Technical analysis CHFJPY for 07.09.2023
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 descending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest resistance is the level 165.750. The closest support is the level 163.640
Key levels
- 168.090, 165.750, 163.640, 161.980, 160.310
Trading scenario
- Recommended opening long positions (Buy Stop) from the level of 165.750, with Take Profit of 168.090 and Stop Loss of 164.750
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 163.640, with Take Profit of 161.980 and Stop Loss of 164.750
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.