Technical analysis EURJPY for 06.11.2023
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 above the Tenkan-se and Kijun-sen lines. The closest support is the level 160.050. The closest resistance is the level 160.850
Key levels
- 161.850, 160.850, 160.050, 159.100, 158.425
Trading scenario
- Recommended opening long positions (Buy Stop) from the level of 160.850, with Take Profit of 161.850 and Stop Loss of 160.050
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 160.050, with Take Profit of 159.100 and Stop Loss of 160.850
Scenario
Recommendation
BUY STOP
Entry Point
160.850
Take Profit
161.850
Stop Loss
160.050
Key Levels
161.850, 160.850, 160.050, 159.100, 158.425
Alternative scenario
Recommendation
SELL STOP
Entry Point
160.050
Take Profit
159.100
Stop Loss
160.850
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.