Technical analysis EURJPY for 04.08.2023

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 below the Tenkan-se and Kijun-sen lines. The closest support is the level 155.875. The closest resistance is the level 156.250

Key levels

• 156.975, 156.625, 156.250, 155.875, 155.500, 155.175

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 156.250, with Take Profit of 156.625 and Stop Loss of 155.875

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 155.875, with Take Profit of 155.500 and Stop Loss of 156.250