Technical analysis EURJPY for 07.09.2023
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 descending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest support is the level 158.050. The closest resistance is the level 158.525
Key levels
- 159.600, 159.050, 158.525, 158.050, 157.400
Trading scenario
- Recommended opening long positions (Buy Stop) from the level of 158.525, with Take Profit of 159.050 and Stop Loss of 158.050
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 158.050, with Take Profit of 157.400 and Stop Loss of 158.525
Scenario
Recommendation
BUY STOP
Entry Point
158.525
Take Profit
159.050
Stop Loss
158.050
Key Levels
159.600, 159.050, 158.525, 158.050, 157.400
Alternative scenario
Recommendation
SELL STOP
Entry Point
158.050
Take Profit
157.400
Stop Loss
158.525
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.