Technical analysis EURJPY for 07.04.2022

The Tenkan-sen line is located below the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span crosses bottom upward the price chart. In this case, the cloud is descending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest support is the level 134.35. The closest resistance is the level 135.10

Key levels

• 137.50, 136.25, 135.10, 134.35, 133.60, 133.05, 131.90

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 135.10, with Take Profit of 136.25 and Stop Loss of 134.35

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 134.35, with Take Profit of 133.60 and Stop Loss of 135.10