Technical analysis USDJPY for 12.03.2024
The Tenkan-sen line is located below the Kijun-sen line. Both lines are directed downward. Confirmatory line Chikou Span is below the price chart
The Tenkan-sen line is located below the Kijun-sen line. Both lines are directed downward. 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 147.390. The closest support is the level 146.320
Key levels
148.640, 147.970, 147.390, 146.320, 145.760, 145.220
Trading scenario
Recommended opening long positions (Buy Stop) from the level of 147.390, with Take Profit of 147.970 and Stop Loss of 146.800
Alternative scenario
Recommended opening short positions (Sell Stop) from the level of 146.320, with Take Profit of 145.760 and Stop Loss of 146.800
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.