Technical analysis EURJPY for 05.12.2023
The Tenkan-sen line is located below the Kijun-sen line. Both lines are directed downward. Confirmatory line Chikou Span is below the price chart
The Tenkan-sen line is located below the Kijun-sen line. Both lines are directed downward. 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 support is the level 159.100. The closest resistance is the level 159.600
Key levels
- 160.150, 159.600, 159.100, 158.725, 158.400
Trading scenario
- Recommended opening short positions (Sell Stop) from the level of 159.100, with Take Profit of 158.725 and Stop Loss of 159.600
Alternative scenario
- Recommended opening long positions (Buy Stop) from the level of 159.600, with Take Profit of 160.150 and Stop Loss of 159.100
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.