Technical analysis EURJPY for 28.09.2023

The Tenkan-sen line is located below the Kijun-sen line. Red is directed downward, while blue remains horizontal. Confirmatory line Chikou Span is 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 156.925. The closest resistance is the level 157.225

Key levels

• 157.975, 157.575, 157.225, 156.925, 156.625

Trading scenario

• Recommended opening short positions (Sell Stop) from the level of 156.925, with Take Profit of 156.625 and Stop Loss of 157.225

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 157.225, with Take Profit of 157.575 and Stop Loss of 156.925