Technical analysis EURJPY for 04.09.2023

The Tenkan-sen line is located below the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span crossed and fixed below the price chart. In this case, the cloud is ready to roll over from ascending to descending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest support is the level 157.125. The closest resistance is the level 157.800

Key levels

• 159.125, 158.400, 157.800, 157.125, 156.425

Trading scenario

• Recommended opening short positions (Sell Limit) from the level of 157.800, with Take Profit of 157.125 and Stop Loss of 158.400

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 158.400, with Take Profit of 159.125 and Stop Loss of 157.800