Technical analysis CADJPY for 23.03.2022

The Tenkan-sen line is located above the Kijun-sen line. Both lines are directed upwards. 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 support is the level 95.450. The closest resistance is the level 96.450

Key levels

• 97.325, 96.450, 95.450, 94.550, 93.725, 92.550, 91.700

Trading scenario

• Recommended opening long positions (Buy Limit) from the level of 95.450, with Take Profit of 96.450 and Stop Loss of 94.550

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 94.550, with Take Profit of 93.725 and Stop Loss of 95.100