Technical analysis EURJPY for 08.02.2023

The Tenkan-sen line is located above the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span is below the price chart. In this case, the cloud is ascending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest support is the level 140.025. The closest resistance is the level 140.675

Key levels

• 142.150, 141.225, 140.675, 140.025, 139.300

Trading scenario

• Recommended opening short positions (Sell Limit) from the level of 140.675, with Take Profit of 140.025 and Stop Loss of 141.225

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 141.225, with Take Profit of 142.150 and Stop Loss of 140.675