Technical analysis EURJPY for 29.12.2023

Tenkan-sen and Kijun-sen lines are merged. Both lines are horizontal. Confirmatory line Chikou Span is above the price chart. In this case, the cloud is ascending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest support is the level 156.225. The closest resistance is the level 156.975

Key levels

• 157.350, 156.975, 156.225, 155.575, 154.750

Trading scenario

• Recommended opening long positions (Buy Limit) from the level of 156.225, with Take Profit of 156.975 and Stop Loss of 155.575

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 155.575, with Take Profit of 154.750 and Stop Loss of 156.225