Technical analysis EURJPY for 14.08.2023

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 traded between Tenkan-se and Kijun-sen lines. The closest resistance is the level 160.220. The closest support is the level 156.620

Key levels

• 162.540, 160.220, 156.620, 154.430, 152.230

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 160.220, with Take Profit of 162.540 and Stop Loss of 158.310

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 156.620, with Take Profit of 154.430 and Stop Loss of 158.310