Technical analysis EURJPY for 03.05.2022

The Tenkan-sen line is located above the Kijun-sen line. Red is directed downward, while blue remains horizontal. Confirmatory line Chikou Span crossed and fixed above the price chart. In this case, the cloud is descending. Instrument is traded between Tenkan-se and Kijun-sen lines. The closest support is the level 136.22. The closest resistance is the level 136.86

Key levels

• 139.05, 138.25, 137.50, 136.86, 136.22, 135.62, 135.00

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 136.86, with Take Profit of 137.50 and Stop Loss of 136.22

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 136.22, with Take Profit of 135.62 and Stop Loss of 136.86