Technical analysis CHFJPY for 24.08.2023
24.08.2023 01:33
Intraday
Technical
The Tenkan-sen line is located below the Kijun-sen line. Red is directed downward, while blue 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 166.450. The closest support is the level 163.530
Key levels
- 168.690, 166.450, 163.530, 161.440, 159.390
Trading scenario
- Recommended opening long positions (Buy Stop) from the level of 166.450, with Take Profit of 168.690 and Stop Loss of 165.100
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 163.530, with Take Profit of 161.440 and Stop Loss of 165.100
Scenario
Recommendation
BUY STOP
Entry Point
166.450
Take Profit
168.690
Stop Loss
165.100
Key Levels
168.690, 166.450, 163.530, 161.440, 159.390
Alternative scenario
Recommendation
SELL STOP
Entry Point
163.530
Take Profit
161.440
Stop Loss
165.100