Technical analysis CHFJPY for 06.12.2023
The Tenkan-sen line is located below the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span crosses bottom upward the price chart
The Tenkan-sen line is located below the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span crosses bottom upward 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 168.860. The closest support is the level 167.550
Key levels
- 170.150, 169.580, 168.860, 167.550, 166.710, 165.960
Trading scenario
- Recommended opening long positions (Buy Stop) from the level of 168.860, with Take Profit of 169.580 and Stop Loss of 168.180
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 167.550, with Take Profit of 166.710 and Stop Loss of 168.180
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.