Technical analysis EURJPY for 04.11.2022

The Tenkan-sen line is located below the Kijun-sen line. Red is directed downward, 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 resistance is the level 145.570. The closest support is the level 143.960

Key levels

• 147.590, 146.490, 145.570, 143.960, 142.640, 141.400

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 145.570, with Take Profit of 146.490 and Stop Loss of 144.700

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 143.960, with Take Profit of 142.640 and Stop Loss of 144.700