Technical analysis EURJPY for 11.10.2023

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 support is the level 157.525. The closest resistance is the level 157.825

Key levels

• 158.250, 157.825, 157.525, 157.200, 156.750

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 157.825, with Take Profit of 158.250 and Stop Loss of 157.525

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 157.525, with Take Profit of 157.200 and Stop Loss of 157.825