Technical analysis CADJPY for 07.04.2022
07.04.2022 02:19
Intraday
Technical
The Tenkan-sen line is located above the Kijun-sen line. Both lines are directed upwards. 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 support is the level 98.30. The closest resistance is the level 98.65
Key levels
- 100.20, 99.45, 99.00, 98.65, 98.30, 97.80, 97.10
Trading scenario
- Recommended opening long positions (Buy Stop) from the level of 98.65, with Take Profit of 99.45 and Stop Loss of 98.30
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 98.30, with Take Profit of 97.80 and Stop Loss of 98.65
Scenario
Recommendation
BUY STOP
Entry Point
98.65
Take Profit
99.45
Stop Loss
98.30
Key Levels
100.20, 99.45, 99.00, 98.65, 98.30, 97.80, 97.10
Alternative scenario
Recommendation
SELL STOP
Entry Point
98.30
Take Profit
97.80
Stop Loss
98.65