Technical analysis EURJPY for 07.09.2023

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 descending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest support is the level 158.050. The closest resistance is the level 158.525

Key levels

• 159.600, 159.050, 158.525, 158.050, 157.400

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 158.525, with Take Profit of 159.050 and Stop Loss of 158.050

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 158.050, with Take Profit of 157.400 and Stop Loss of 158.525