Technical analysis EURJPY for 09.08.2023

The Tenkan-sen line is located above the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span crossed and fixed 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 156.750. The closest resistance is the level 157.400

Key levels

• 157.850, 157.400, 156.750, 156.425, 155.950

Trading scenario

• Recommended opening long positions (Buy Limit) from the level of 156.750, with Take Profit of 157.400 and Stop Loss of 156.425

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 156.425, with Take Profit of 155.950 and Stop Loss of 156.750