Technical analysis EURJPY for 06.09.2024

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. In this case, the cloud is descending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest support is the level 158.700. The closest resistance is the level 159.745

Key levels

• 161.350, 160.400, 159.745, 158.700, 157.725

Trading scenario

• Recommended opening short positions (Sell Limit) from the level of 159.745, with Take Profit of 158.700 and Stop Loss of 160.400

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 160.400, with Take Profit of 161.350 and Stop Loss of 159.745