Technical analysis EURJPY for 08.08.2023

The Tenkan-sen line is located below 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 above the Tenkan-se and Kijun-sen lines. The closest resistance is the level 157.930. The closest support is the level 155.900

Key levels

• 159.750, 157.930, 155.900, 154.060, 152.260

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 157.930, with Take Profit of 159.750 and Stop Loss of 157.030

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 155.900, with Take Profit of 154.060 and Stop Loss of 157.030