Technical analysis EURJPY for 02.08.2023
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 resistance is the level 157.900. The closest support is the level 156.420
Key levels
- 159.220, 158.650, 157.900, 156.420, 155.620, 154.980
Trading scenario
- Recommended opening long positions (Buy Stop) from the level of 157.900, with Take Profit of 158.650 and Stop Loss of 157.250
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 156.420, with Take Profit of 155.620 and Stop Loss of 157.250
Scenario
Recommendation
BUY STOP
Entry Point
157.900
Take Profit
158.650
Stop Loss
157.250
Key Levels
159.220, 158.650, 157.900, 156.420, 155.620, 154.980
Alternative scenario
Recommendation
SELL STOP
Entry Point
156.420
Take Profit
155.620
Stop Loss
157.250
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.