Technical analysis EURJPY for 11.09.2023
Intraday
Technical
The Tenkan-sen line is located below the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span is below the price chart
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 descending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest resistance is the level 158.430. The closest support is the level 156.330
Key levels
- 159.710, 158.430, 156.330, 154.770, 153.160
Trading scenario
- Recommended opening long positions (Buy Stop) from the level of 158.430, with Take Profit of 159.710 and Stop Loss of 157.440
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 156.330, with Take Profit of 154.770 and Stop Loss of 157.440
Scenario
Recommendation
BUY STOP
Entry Point
158.430
Take Profit
159.710
Stop Loss
157.440
Key Levels
159.710, 158.430, 156.330, 154.770, 153.160
Alternative scenario
Recommendation
SELL STOP
Entry Point
156.330
Take Profit
154.770
Stop Loss
157.440
Author
Nikolai Krishtopov
Market Analyst & Marketing Manager, Investizo
Nikolai Krishtopov is a Market Analyst at Investizo with more than 15 years of experience in the financial markets industry and over a decade of trading experience. His areas of focus include forex and crypto markets, technical analysis, intraday trading and market behaviour.