Technical analysis EURJPY for 09.05.2022

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 is descending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest resistance is the level 138.050. The closest support is the level 137.510

Key levels

• 139.010, 138.540, 138.050, 137.510, 137.170, 136.850

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 138.050, with Take Profit of 138.540 and Stop Loss of 137.700

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 137.510, with Take Profit of 137.170 and Stop Loss of 137.700