Technical analysis EURJPY for 12.07.2023

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 155.180. The closest support is the level 153.590

Key levels

• 156.610, 155.990, 155.180, 153.590, 152.770, 151.780

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 155.180, with Take Profit of 155.990 and Stop Loss of 154.420

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 153.590, with Take Profit of 152.770 and Stop Loss of 154.420