Technical analysis EURJPY for 07.07.2023

The Tenkan-sen line is located below the Kijun-sen line. Red is directed downward, while blue remains horizontal. Confirmatory line Chikou Span crosses bottom upward the price chart. In this case, the cloud turned over from ascending to descending. Instrument is traded between Tenkan-se and Kijun-sen lines. The closest resistance is the level 157.720. The closest support is the level 155.990

Key levels

• 159.000, 158.500, 157.720, 155.990, 155.180, 153.620

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 157.720, with Take Profit of 158.500 and Stop Loss of 156.850

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 155.990, with Take Profit of 155.180 and Stop Loss of 156.850