Technical analysis EURJPY for 25.08.2023

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 traded between Tenkan-se and Kijun-sen lines. The closest resistance is the level 159.130. The closest support is the level 156.650

Key levels

• 160.840, 159.130, 156.650, 154.520, 152.280

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 159.130, with Take Profit of 160.840 and Stop Loss of 157.870

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 156.650, with Take Profit of 154.520 and Stop Loss of 157.870