Technical analysis USDJPY for 01.12.2021
The Tenkan-sen line is located below the Kijun-sen line. Red is directed downward, while blue remains horizontal. Confirmatory line Chikou Span is below the price chart
The Tenkan-sen line is located below the Kijun-sen line. Red is directed downward, 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 and resistance levels are Tenkan-se and Kijun-sen, respectively. The closest support and resistance levels are Tenkan-se and Kijun-sen, respectively
Key levels
- 115.500, 114.500, 114.000, 113.050, 112.300,111.500
Trading scenario
- Recommended opening short positions (Sell Stop) from the level of 112.860, with Take Profit of 112.300 and Stop Loss of 113.610
Alternative scenario
- Recommended opening long positions (Buy Stop) from the level of 114.350, with Take Profit of 114.500 and Stop Loss of 114.000
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.