Technical analysis CHFJPY for 07.11.2023
The Tenkan-sen line is located above the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span crosses from top to bottom the price chart
The Tenkan-sen line is located above the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span crosses from top to bottom the price chart. In this case, the cloud turned over from descending to ascending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest resistance is the level 167.550. The closest support is the level 165.950
Key levels
- 168.850, 168.200, 167.550, 165.950, 165.100, 164.270
Trading scenario
- Recommended opening long positions (Buy Stop) from the level of 167.550, with Take Profit of 168.200 and Stop Loss of 166.750
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 165.950, with Take Profit of 165.100 and Stop Loss of 166.750
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.