Technical analysis USDJPY for 02.02.2024
The Tenkan-sen line is located below the Kijun-sen line. Red is directed downward, while blue remains horizontal. Confirmatory line Chikou Span is below the price chart
The Tenkan-sen line is located below the Kijun-sen line. Red is directed downward, while blue remains horizontal. 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 146.900. The closest support is the level 145.700
Key levels
- 148.700, 147.675, 146.900, 145.700, 145.160, 144.550
Trading scenario
- Recommended opening long positions (Buy Stop) from the level of 146.900, with Take Profit of 147.675 and Stop Loss of 146.400
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 145.700, with Take Profit of 145.160 and Stop Loss of 146.400
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.