Technical analysis EURJPY for 08.08.2023
Intraday
Technical
The Tenkan-sen line is located below the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span is below the price chart
The Tenkan-sen line is located below the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span is below 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 157.930. The closest support is the level 155.900
Key levels
- 159.750, 157.930, 155.900, 154.060, 152.260
Trading scenario
- Recommended opening long positions (Buy Stop) from the level of 157.930, with Take Profit of 159.750 and Stop Loss of 157.030
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 155.900, with Take Profit of 154.060 and Stop Loss of 157.030
Scenario
Recommendation
BUY STOP
Entry Point
157.930
Take Profit
159.750
Stop Loss
157.030
Key Levels
159.750, 157.930, 155.900, 154.060, 152.260
Alternative scenario
Recommendation
SELL STOP
Entry Point
155.900
Take Profit
154.060
Stop Loss
157.030
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.