Technical analysis EURJPY for 16.01.2024

The Tenkan-sen line is located above the Kijun-sen line. Both lines are directed upwards. 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 159.150. The closest resistance is the level 160.275

Key levels

• 162.000, 161.050, 160.275, 159.150, 157.750

Trading scenario

• Recommended opening long positions (Buy) at the current price, with Take Profit of 160.275 and Stop Loss of 159.150

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 159.150, with Take Profit of 157.750 and Stop Loss of 160.000