Technical analysis CHFJPY for 11.08.2023
The Tenkan-sen line is located above the Kijun-sen line. Red is directed upwards, while blue remains horizontal. Confirmatory line Chikou Span is above the price chart
The Tenkan-sen line is located above the Kijun-sen line. Red is directed upwards, while blue remains horizontal. Confirmatory line Chikou Span is above the price chart. In this case, the cloud is ascending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest resistance is the level 166.990. The closest support is the level 163.100
Key levels
- 169.110, 166.990, 163.100, 161.080, 159.000
Trading scenario
- Recommended opening long positions (Buy Stop) from the level of 166.990, with Take Profit of 169.110 and Stop Loss of 165.050
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 163.100, with Take Profit of 161.080 and Stop Loss of 165.050
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.