Technical analysis EURJPY for 07.10.2024

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 162.850. The closest resistance is the level 163.750

Key levels

• 164.650, 163.750, 162.850, 161.600, 160.700

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 163.750, with Take Profit of 164.650 and Stop Loss of 162.850

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 162.850, with Take Profit of 161.600 and Stop Loss of 163.750