Technical analysis EURJPY for 21.08.2023

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 below the Tenkan-se and Kijun-sen lines. The closest resistance is the level 159.120. The closest support is the level 156.630

Key levels

• 161.950, 159.120, 156.630, 154.350, 152.270

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 159.120, with Take Profit of 161.950 and Stop Loss of 157.900

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 156.630, with Take Profit of 154.350 and Stop Loss of 157.900