Technical analysis EURJPY for 24.07.2023

The Tenkan-sen line is located above the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span is above the price chart. In this case, the cloud is ascending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest support is the level 157.425. The closest resistance is the level 158.000

Key levels

• 158.475, 158.000, 157.425, 156.950, 156.350

Trading scenario

• Recommended opening long positions (Buy Limit) from the level of 157.425, with Take Profit of 158.000 and Stop Loss of 156.950

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 156.950, with Take Profit of 156.350 and Stop Loss of 157.425