Technical analysis EURJPY for 06.03.2024

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 traded between Tenkan-se and Kijun-sen lines. The closest support is the level 162.625. The closest resistance is the level 163.175

Key levels

• 163.775, 163.175, 162.625, 161.900, 161.300

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 163.175, with Take Profit of 163.775 and Stop Loss of 162.625

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 162.625, with Take Profit of 161.900 and Stop Loss of 163.175