Technical analysis NZDJPY for 16.09.2022
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
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 85.075. The closest resistance is the level 85.600
Key levels
- 86.750, 86.050, 85.600, 85.075, 84.700
Trading scenario
- Recommended opening short positions (Sell Limit) from the level of 85.600, with Take Profit of 85.075 and Stop Loss of 86.050
Alternative scenario
- Recommended opening long positions (Buy Stop) from the level of 86.050, with Take Profit of 86.750 and Stop Loss of 85.600
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.