Technical analysis EURJPY for 20.09.2023

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 ascending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest resistance is the level 159.710. The closest support is the level 156.800

Key levels

• 161.580, 159.710, 156.800, 155.050, 153.140

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 159.710, with Take Profit of 161.580 and Stop Loss of 158.310

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 156.800, with Take Profit of 155.050 and Stop Loss of 158.310