Technical analysis EURJPY for 11.09.2023

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 descending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest resistance is the level 158.430. The closest support is the level 156.330

Key levels

• 159.710, 158.430, 156.330, 154.770, 153.160

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 158.430, with Take Profit of 159.710 and Stop Loss of 157.440

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 156.330, with Take Profit of 154.770 and Stop Loss of 157.440