Technical analysis USDJPY for 24.02.2022

The Tenkan-sen line is located below the Kijun-sen line. Both lines are directed downward. 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 support is the level 114.55. The closest resistance is the level 114.90

Key levels

• 116.30, 115.65, 115.25, 114.90, 114.55, 114.15, 113.50

Trading scenario

• Recommended opening short positions (Sell Limit) from the level of 114.90, with Take Profit of 114.15 and Stop Loss of 115.25

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 115.25, with Take Profit of 116.30 and Stop Loss of 114.90