Technical analysis USDJPY for 03.08.2022

The Tenkan-sen line is located below the Kijun-sen line. Red is directed upwards, while blue remains horizontal. Confirmatory line Chikou Span is below the price chart. In this case, the cloud is descending. Instrument is traded between Tenkan-se and Kijun-sen lines. The closest support is the level 133.00. The closest resistance is the level 133.60

Key levels

• 134.60, 133.60, 133.00, 132.50, 132.00, 131.40, 130.40

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 133.60, with Take Profit of 134.60 and Stop Loss of 133.00

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 133.00, with Take Profit of 132.00 and Stop Loss of 133.60