Technical analysis EURJPY for 29.08.2024
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 160.200. The closest resistance is the level 161.050
Key levels
- 162.300, 161.050, 160.200, 159.350, 158.400
Trading scenario
- Recommended opening short positions (Sell Stop) from the level of 160.200, with Take Profit of 159.350 and Stop Loss of 161.050
Alternative scenario
- Recommended opening long positions (Buy Stop) from the level of 161.050, with Take Profit of 162.300 and Stop Loss of 160.200
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.