Source: PaxForex Premium Analytics Portal, Technical Insight
EUR/JPY regains upside momentum past 144.00 as Tokyo opens on Wednesday. In doing so, the cross-currency pair picks up bids to dash the previous day’s U-turn from the highest levels since late December amid cautious optimism in the market.
EUR/JPY,D1
Pivot: 144.55
Analysis:
While the price is above 143.00, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 144.55
- Take Profit 1: 145.60
- Take Profit 2: 147.00
Alternative scenario:
If the level 143.00 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 143.00
- Take profit 1: 141.50
- Take Profit 2: 140.00
Comment:
RSI shows the possibility of an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 148.50 | 143.00 |
| 147.00 | 141.50 |
| 145.60 | 140.00 |
