Technical analysis NZDJPY for 12.10.2022

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 support is the level 80.800. The closest resistance is the level 81.450

Key levels

• 83.600, 82.300, 81.450, 80.800, 80.150

Trading scenario

• Recommended opening short positions (Sell Stop) from the level of 80.800, with Take Profit of 80.150 and Stop Loss of 81.450

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 81.450, with Take Profit of 82.300 and Stop Loss of 80.800