Technical analysis EURJPY for 04.11.2022
The Tenkan-sen line is located below 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 below 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 descending. Instrument corrected to the Tenkan-se line. The closest resistance is the level 145.570. The closest support is the level 143.960
Key levels
- 147.590, 146.490, 145.570, 143.960, 142.640, 141.400
Trading scenario
- Recommended opening long positions (Buy Stop) from the level of 145.570, with Take Profit of 146.490 and Stop Loss of 144.700
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 143.960, with Take Profit of 142.640 and Stop Loss of 144.700
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.