Technical analysis EURJPY for 01.08.2022

The Tenkan-sen line is located below the Kijun-sen line. Both lines are directed downward. Confirmatory line Chikou Span is below the price chart. In this case, the cloud is descending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest resistance is the level 136.180. The closest support is the level 134.870

Key levels

• 137.490, 136.880, 136.180, 134.870, 134.200, 133.500

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 136.180, with Take Profit of 136.880 and Stop Loss of 135.500

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 134.870, with Take Profit of 134.200 and Stop Loss of 135.500