Technical analysis EURJPY for 27.10.2023
The Tenkan-sen line is located below the Kijun-sen line. Red is directed downward, while blue remains horizontal. Confirmatory line Chikou Span crossed and fixed below the price chart
The Tenkan-sen line is located below the Kijun-sen line. Red is directed downward, while blue remains horizontal. Confirmatory line Chikou Span crossed and fixed below the price chart. In this case, the cloud is ascending. Instrument is traded between Tenkan-se and Kijun-sen lines. The closest support is the level 158.750. The closest resistance is the level 159.125
Key levels
- 159.375, 159.125, 158.750, 158.500, 158.150
Trading scenario
- Recommended opening long positions (Buy Limit) from the level of 158.750, with Take Profit of 159.125 and Stop Loss of 158.500
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 158.500, with Take Profit of 158.150 and Stop Loss of 158.750
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.