EUR/JPY | Euro to Japanese Yen Trading Analysis

Source: PaxForex Premium Analytics Portal, Technical Insight

Bank of Japan, Kuroda: confident economy will overcome the impact of COVID-19.

EUR/JPY,D1

Pivot: 128.25

Analysis:

While the price is below 131.26, follow the recommendations below:

• Time frame: D1
• Recommendation: short position
• Entry point: 128.25
• Take Profit 1: 127.00
• Take Profit 2: 126.04

Alternative scenario:

If the level 131.26 is broken-out, follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 131.26
• Take profit 1: 133.65
• Take Profit 2: 135.07

Comment:

RSI shows the possibility of a downtrend in the medium term.

Key levels: