Technical analysis EURJPY for 30.08.2023

The Tenkan-sen line is located above the Kijun-sen line. Both lines are directed upwards. Confirmatory line Chikou Span crossed and fixed above the price chart. In this case, the cloud is ready to roll over from descending to ascending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest support is the level 158.500. The closest resistance is the level 159.100

Key levels

• 159.800, 159.100, 158.500, 157.900, 157.200

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 159.100, with Take Profit of 159.800 and Stop Loss of 158.500

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 158.500, with Take Profit of 157.900 and Stop Loss of 159.100