Technical analysis EURJPY for 01.04.2024

The Tenkan-sen line is located below the Kijun-sen line. Both lines are directed downward. 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 163.100. The closest resistance is the level 163.500

Key levels

• 164.000, 163.500, 163.100, 162.700, 162.100

Trading scenario

• Recommended opening short positions (Sell Stop) from the level of 163.100, with Take Profit of 162.700 and Stop Loss of 163.500

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 163.500, with Take Profit of 164.000 and Stop Loss of 163.100