Technical analysis EURJPY for 08.07.2022

The Tenkan-sen line is located below the Kijun-sen line. Red is directed upwards, while blue remains horizontal. Confirmatory line Chikou Span is below the price chart. In this case, the cloud is descending. Instrument corrected to the Tenkan-se line. The closest support is the level 138.06. The closest resistance is the level 138.80

Key levels

• 140.07, 138.80, 138.06, 137.45, 136.80, 136.08, 134.83

Trading scenario

• Recommended opening short positions (Sell Stop) from the level of 138.06, with Take Profit of 136.80 and Stop Loss of 138.80

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 138.80, with Take Profit of 140.07 and Stop Loss of 138.06