Technical analysis EURJPY for 04.08.2023
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 below the Tenkan-se and Kijun-sen lines. The closest support is the level 155.875. The closest resistance is the level 156.250
Key levels
- 156.975, 156.625, 156.250, 155.875, 155.500, 155.175
Trading scenario
- Recommended opening long positions (Buy Stop) from the level of 156.250, with Take Profit of 156.625 and Stop Loss of 155.875
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 155.875, with Take Profit of 155.500 and Stop Loss of 156.250
Scenario
Recommendation
BUY STOP
Entry Point
156.250
Take Profit
156.625
Stop Loss
155.875
Key Levels
156.975, 156.625, 156.250, 155.875, 155.500, 155.175
Alternative scenario
Recommendation
SELL STOP
Entry Point
155.875
Take Profit
155.500
Stop Loss
156.250
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.