Technical analysis CHFJPY for 03.08.2023
The Tenkan-sen line is located above 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 above the Tenkan-se and Kijun-sen lines. The closest resistance is the level 165.140. The closest support is the level 161.450

Key levels
- 167.320, 165.140, 161.450, 158.990, 156.440
Trading scenario
- Recommended opening long positions (Buy Stop) from the level of 165.140, with Take Profit of 167.320 and Stop Loss of 163.270
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 161.450, with Take Profit of 158.990 and Stop Loss of 163.270