Technical analysis USDJPY for 16.10.2024

The Tenkan-sen line is located above the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span crosses from top to bottom the price chart. In this case, the cloud is ascending. Instrument is traded between Tenkan-se and Kijun-sen lines

Key levels

147.5, 148.4, 149.55, 149.9, 150.7

Trading scenario

Recommended opening long positions (Buy Limit) from the level of 148.4, with Take Profit of 150.7 and Stop Loss of 147.5

Alternative scenario

Recommended opening short positions (Sell Limit) from the level of 149.55, with Take Profit of 147.5 and Stop Loss of 149.9