Technical analysis EURJPY for 09.02.2024

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 160.650. The closest resistance is the level 161.275

Key levels

• 161.900, 161.275, 160.650, 159.950, 159.350

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 161.275, with Take Profit of 161.900 and Stop Loss of 160.650

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 160.650, with Take Profit of 159.950 and Stop Loss of 161.275