Technical analysis EURJPY for 17.03.2022

The Tenkan-sen line is located above the Kijun-sen line. Both lines are directed upwards. Confirmatory line Chikou Span is above the price chart. In this case, the cloud is ascending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest resistance is the level 131.20. The closest support is the level 130.65

Key levels

• 132.55, 131.65, 131.20, 130.65, 130.00, 129.50, 128.80, 128.00

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 131.20, with Take Profit of 131.65 and Stop Loss of 130.80

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 130.65, with Take Profit of 130.00 and Stop Loss of 131.20