Technical analysis EURJPY for 11.03.2022

The Tenkan-sen line is located above the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span is above the price chart. In this case, the cloud turned over from descending to ascending. Instrument has broken through the upper border of the cloud and continued to grow. The closest support is the top of the cloud. The closest resistance is the level 128.80

Key levels

• 133.15, 131.00, 130.05, 128.80, 127.55, 126.50, 124,40

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 128.80, with Take Profit of 130.05 and Stop Loss of 128.40

Alternative scenario

• Recommended opening short positions (Sell Limit) from the level of 130.05, with Take Profit of 128.80 and Stop Loss of 131.00