Technical analysis CHFJPY for 27.07.2023
The Tenkan-sen line is located below the Kijun-sen line. Blue is directed upwards, while red remains horizontal. Confirmatory line Chikou Span is below the price chart
The Tenkan-sen line is located below the Kijun-sen line. Blue is directed upwards, while red remains horizontal. Confirmatory line Chikou Span is below the price chart. In this case, the cloud is ascending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest resistance is the level 164.350. The closest support is the level 160.310
Key levels
- 167.240, 164.350, 160.310, 157.570, 154.880
Trading scenario
- Recommended opening long positions (Buy Stop) from the level of 164.350, with Take Profit of 167.240 and Stop Loss of 162.560
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 160.310, with Take Profit of 157.570 and Stop Loss of 162.560
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.