Technical analysis USDJPY for 02.02.2023
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 resistance is the level 128.930. The closest support is the level 127.860
Key levels
- 130.280, 129.570, 128.930, 127.860, 127.120, 126.430
Trading scenario
- Recommended opening long positions (Buy Stop) from the level of 128.930, with Take Profit of 129.570 and Stop Loss of 128.420
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 127.860, with Take Profit of 127.120 and Stop Loss of 128.420
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.