Technical analysis EURJPY for 01.09.2023
Intraday
Technical
Tenkan-sen and Kijun-sen lines are merged. Both lines are horizontal. Confirmatory line Chikou Span is below the price chart
Tenkan-sen and Kijun-sen lines are merged. 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 158.680. The closest support is the level 155.660
Key levels
- 159.690, 158.680, 156.950, 155.660, 154.340
Trading scenario
- Recommended opening long positions (Buy Stop) from the level of 158.680, with Take Profit of 159.690 and Stop Loss of 157.830
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 155.660, with Take Profit of 154.340 and Stop Loss of 157.830
Scenario
Recommendation
BUY STOP
Entry Point
158.680
Take Profit
159.690
Stop Loss
157.830
Key Levels
159.690, 158.680, 156.950, 155.660, 154.340
Alternative scenario
Recommendation
SELL STOP
Entry Point
155.660
Take Profit
154.340
Stop Loss
157.830
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.