Technical analysis EURJPY for 08.12.2023

The Tenkan-sen line is located below the Kijun-sen line. Both lines are directed downward. 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 support is the level 155.300. The closest resistance is the level 155.900

Key levels

• 157.050, 156.350, 155.900, 155.300, 154.700

Trading scenario

• Recommended opening short positions (Sell Limit) from the level of 155.900, with Take Profit of 155.300 and Stop Loss of 156.350

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 156.350, with Take Profit of 157.050 and Stop Loss of 155.900