Technical analysis EURJPY for 01.03.2024

The Tenkan-sen line is located below the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span is below 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 161.500. The closest resistance is the level 162.400

Key levels

• 163.300, 162.400, 161.500, 160.350, 159.425

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 162.400, with Take Profit of 163.300 and Stop Loss of 161.500

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 161.500, with Take Profit of 160.350 and Stop Loss of 162.400