Technical analysis EURJPY for 29.05.2024
Intraday
Technical
The Tenkan-sen line is located above the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span is above the price chart
The Tenkan-sen line is located above the Kijun-sen line. Both lines are horizontal. 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 170.350. The closest resistance is the level 170.950
Key levels
- 171.600, 170.950, 170.350, 169.550, 168.550
Trading scenario
- Recommended opening long positions (Buy Stop) from the level of 170.950, with Take Profit of 171.600 and Stop Loss of 170.350
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 170.350, with Take Profit of 169.550 and Stop Loss of 170.950
Scenario
Recommendation
BUY STOP
Entry Point
170.950
Take Profit
171.600
Stop Loss
170.350
Key Levels
171.600, 170.950, 170.350, 169.550, 168.550
Alternative scenario
Recommendation
SELL STOP
Entry Point
170.350
Take Profit
169.550
Stop Loss
170.950
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.