Technical analysis EURJPY for 13.09.2023

The Tenkan-sen line is located above the Kijun-sen line. Red is directed upwards, while blue remains horizontal. Confirmatory line Chikou Span crosses bottom upward the price chart. In this case, the cloud is descending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest resistance is the level 158.730. The closest support is the level 157.700

Key levels

• 159.690, 159.200, 158.730, 157.700, 157.140, 156.500

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 158.730, with Take Profit of 159.200 and Stop Loss of 158.200

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 157.700, with Take Profit of 157.140 and Stop Loss of 158.200