Technical analysis EURJPY for 03.05.2024

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 164.300. The closest resistance is the level 165.100

Key levels

• 166.800, 165.900, 165.100, 164.300, 163.500

Trading scenario

• Recommended opening short positions (Sell Limit) from the level of 165.100, with Take Profit of 164.300 and Stop Loss of 165.900

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 165.900, with Take Profit of 166.800 and Stop Loss of 165.100