Technical analysis EURJPY for 18.12.2023
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 descending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest support is the level 154.600. The closest resistance is the level 155.250
Key levels
- 157.475, 156.300, 155.250, 154.600, 153.650
Trading scenario
- Recommended opening short positions (Sell Stop) from the level of 154.600, with Take Profit of 153.650 and Stop Loss of 155.250
Alternative scenario
- Recommended opening long positions (Buy Stop) from the level of 155.250, with Take Profit of 156.300 and Stop Loss of 154.600
Scenario
Recommendation
SELL STOP
Entry Point
154.600
Take Profit
153.650
Stop Loss
155.250
Key Levels
157.475, 156.300, 155.250, 154.600, 153.650
Alternative scenario
Recommendation
BUY STOP
Entry Point
155.250
Take Profit
156.300
Stop Loss
154.600
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.