Technical analysis EURJPY for 03.01.2024
The Tenkan-sen line is located below the Kijun-sen line. Red is directed downward, while blue remains horizontal. Confirmatory line Chikou Span is below the price chart
The Tenkan-sen line is located below the Kijun-sen line. Red is directed downward, while blue remains 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 154.675. The closest resistance is the level 155.825
Key levels
- 157.900, 156.525, 155.825, 154.675, 153.850
Trading scenario
- Recommended opening short positions (Sell Limit) from the level of 155.825, with Take Profit of 154.675 and Stop Loss of 156.525
Alternative scenario
- Recommended opening long positions (Buy Stop) from the level of 156.525, with Take Profit of 157.900 and Stop Loss of 155.825
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.