Technical analysis USDJPY for 16.01.2023
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 129.150. The closest support is the level 127.040

Key levels
- 130.980, 130.380, 129.150, 127.040, 126.160, 125.430
Trading scenario
- Recommended opening long positions (Buy Stop) from the level of 129.150, with Take Profit of 130.380 and Stop Loss of 128.000
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 127.040, with Take Profit of 126.160 and Stop Loss of 128.000