Technical analysis NZDJPY for 12.05.2023
Intraday
Technical
The Tenkan-sen line is located below the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span is above the price chart
The Tenkan-sen line is located below the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span is above the price chart. In this case, the cloud is ascending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest support is the level 84.450. The closest resistance is the level 84.800
Key levels
- 85.750, 85.325, 84.800, 84.450, 84.000, 83.650
Trading scenario
- Recommended opening long positions (Buy Stop) from the level of 84.800, with Take Profit of 85.325 and Stop Loss of 84.450
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 84.450, with Take Profit of 84.000 and Stop Loss of 84.800
Scenario
Recommendation
BUY STOP
Entry Point
84.800
Take Profit
85.325
Stop Loss
84.450
Key Levels
85.750, 85.325, 84.800, 84.450, 84.000, 83.650
Alternative scenario
Recommendation
SELL STOP
Entry Point
84.450
Take Profit
84.000
Stop Loss
84.800
Author
Nikolai Krishtopov
Market Analyst & Marketing Manager, Investizo
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.