Technical analysis EURJPY for 05.05.2022

The Tenkan-sen line is located below the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span is below the price chart. In this case, the cloud turned over from descending to ascending. Instrument is traded between Tenkan-se and Kijun-sen lines. The closest support is the level 136.400. The closest resistance is the level 137.500

Key levels

• 139.400, 138.700, 137.500, 136.400, 135.400, 134.300

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 137.500, with Take Profit of 138.700 and Stop Loss of 136.400

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 136.400, with Take Profit of 135.400 and Stop Loss of 137.095