Technical analysis EURJPY for 29.08.2024

29.08.2024 00:54
Intraday
Technical

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

Scenario
Recommendation
SELL STOP

Entry Point
160.200

Take Profit
159.350

Stop Loss
161.050

Key Levels
162.300, 161.050, 160.200, 159.350, 158.400
Alternative scenario
Recommendation
BUY STOP

Entry Point
161.050

Take Profit
162.300

Stop Loss
160.200