Technical analysis EURJPY for 21.08.2023
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 below the Tenkan-se and Kijun-sen lines. The closest resistance is the level 159.120. The closest support is the level 156.630
Key levels
- 161.950, 159.120, 156.630, 154.350, 152.270
Trading scenario
- Recommended opening long positions (Buy Stop) from the level of 159.120, with Take Profit of 161.950 and Stop Loss of 157.900
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 156.630, with Take Profit of 154.350 and Stop Loss of 157.900
Scenario
Recommendation
BUY STOP
Entry Point
159.120
Take Profit
161.950
Stop Loss
157.900
Key Levels
161.950, 159.120, 156.630, 154.350, 152.270
Alternative scenario
Recommendation
SELL STOP
Entry Point
156.630
Take Profit
154.350
Stop Loss
157.900
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.