Technical analysis CHFJPY for 11.07.2023
11.07.2023 17:27
Intraday
Technical
The Tenkan-sen line is located below the Kijun-sen line. Blue is directed downward, while red 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 161.480. The closest support is the level 157.630
Key levels
- 164.030, 161.480, 157.630, 155.080, 152.410
Trading scenario
- Recommended opening long positions (Buy Stop) from the level of 161.480, with Take Profit of 164.030 and Stop Loss of 159.570
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 157.630, with Take Profit of 155.080 and Stop Loss of 159.570
Scenario
Recommendation
BUY STOP
Entry Point
161.480
Take Profit
164.030
Stop Loss
159.570
Key Levels
164.030, 161.480, 157.630, 155.080, 152.410
Alternative scenario
Recommendation
SELL STOP
Entry Point
157.630
Take Profit
155.080
Stop Loss
159.570