Technical analysis EURJPY for 05.01.2023

The Tenkan-sen line is located below the Kijun-sen line. Red is directed up, while blue is directed down. Confirmatory line Chikou Span is below 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 141.110. The closest support is the level 139.320

Key levels

• 142.720, 142.090, 141.110, 139.320, 138.650, 137.980

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 141.110, with Take Profit of 142.090 and Stop Loss of 140.200

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 139.320, with Take Profit of 138.650 and Stop Loss of 140.200