Technical analysis EURJPY for 18.01.2022
The Tenkan-sen line is located above the Kijun-sen line. Red is directed downward, while blue remains horizontal. Confirmatory line Chikou Span is below the price chart
The Tenkan-sen line is located above the Kijun-sen line. Red is directed downward, while blue remains horizontal. Confirmatory line Chikou Span is below the price chart. In this case, the cloud is ready to roll over from ascending to descending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest support is the level 130.000. Strong resistance is the merged Tenkan-se and Kijun-sen lines
Key levels
- 131.350, 130.650, 130.000, 129.450, 128.700, 128.225, 127.800
Trading scenario
- Recommended opening short positions (Sell Stop) from the level of 130.000, with Take Profit of 129.450 and Stop Loss of 130.400
Alternative scenario
- Recommended opening long positions (Buy Stop) from the level of 130.650, with Take Profit of 131.350 and Stop Loss of 130.000
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.