Technical analysis CADJPY for 27.05.2022
27.05.2022 18:39
Intraday
Technical
Tenkan-sen and Kijun-sen lines are merged. Both lines are horizontal. Confirmatory line Chikou Span crossed and fixed below the price chart. In this case, the cloud is descending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest support is the level 99.250. The closest resistance is the level 99.800
Key levels
- 100.975, 100.400, 99.800, 99.250, 98.550
Trading scenario
- Recommended opening long positions (Buy Stop) from the level of 99.800, with Take Profit of 100.400 and Stop Loss of 99.250
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 99.250, with Take Profit of 98.550 and Stop Loss of 99.800
Scenario
Recommendation
BUY STOP
Entry Point
99.800
Take Profit
100.400
Stop Loss
99.250
Key Levels
100.975, 100.400, 99.800, 99.250, 98.550
Alternative scenario
Recommendation
SELL STOP
Entry Point
99.250
Take Profit
98.550
Stop Loss
99.800