Technical analysis EURJPY for 16.09.2024

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 155.500. The closest resistance is the level 156.200

Key levels

• 157.550, 156.800, 156.200, 155.500, 155.000

Trading scenario

• Recommended opening short positions (Sell Limit) from the level of 156.200, with Take Profit of 155.500 and Stop Loss of 156.800

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 156.800, with Take Profit of 157.550 and Stop Loss of 156.200