Technical analysis EURJPY for 24.01.2024

The Tenkan-sen line is located below the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span crosses from top to bottom 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 160.700. The closest resistance is the level 161.650

Key levels

• 162.250,161.650, 160.700, 160.150, 159.300

Trading scenario

• Recommended opening long positions (Buy Limit) from the level of 160.700, with Take Profit of 161.650 and Stop Loss of 160.150

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 160.150, with Take Profit of 159.300 and Stop Loss of 160.700