Technical analysis USDJPY for 04.03.2024
The Tenkan-sen line is located below the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span is below the price chart
The Tenkan-sen line is located below the Kijun-sen line. Both lines are 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 150.430. The closest support is the level 149.440
Key levels
151.000, 150.800, 150.430, 149.440, 148.640, 147.970
Trading scenario
Recommended opening long positions (Buy Stop) from the level of 150.430, with Take Profit of 150.800 and Stop Loss of 149.920
Alternative scenario
Recommended opening short positions (Sell Stop) from the level of 149.440, with Take Profit of 148.640 and Stop Loss of 149.920
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.