Technical analysis CHFJPY for 20.02.2024
The Tenkan-sen line is located above the Kijun-sen line. Red is directed downward, while blue remains horizontal. Confirmatory line Chikou Span is above 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 above the price chart. In this case, the cloud turned over from descending to ascending. Instrument is traded between Tenkan-se and Kijun-sen lines. The closest resistance is the level 170.500. The closest support is the level 169.580
Key levels
171.320, 170.890, 170.500, 169.580, 169.290, 169.000
Trading scenario
Recommended opening long positions (Buy Stop) from the level of 170.500, with Take Profit of 170.890 and Stop Loss of 170.100
Alternative scenario
Recommended opening short positions (Sell Stop) from the level of 169.580, with Take Profit of 169.290 and Stop Loss of 170.100
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.