Technical analysis EURJPY for 16.01.2024
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
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 159.150. The closest resistance is the level 160.275
Key levels
- 162.000, 161.050, 160.275, 159.150, 157.750
Trading scenario
- Recommended opening long positions (Buy) at the current price, with Take Profit of 160.275 and Stop Loss of 159.150
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 159.150, with Take Profit of 157.750 and Stop Loss of 160.000
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.