Technical analysis EURJPY for 20.12.2021

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 lower border of the cloud. The closest support is the level 128.000

Key levels

• 130.650, 130.000, 129.450, 128.700, 128.000, 127.500, 126.800

Trading scenario

• Recommended opening long positions (Buy) at the current price, with Take Profit of 128.700 and Stop Loss of 128.000

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 128.000, with Take Profit of 127.500 and Stop Loss of 128.500