Source: PaxForex Premium Analytics Portal, Technical Insight
Rising eurozone yields may continue to support the single currency in anticipation of this Thursday's ECB monetary policy meeting.
EUR/JPY,D1
Pivot: 128.73
Analysis:
While the price is above 128.40, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 128.73
- Take Profit 1: 131.55
- Take Profit 2: 133.00
Alternative scenario:
If the level 128.40 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 128.40
- Take profit 1: 125.81
- Take Profit 2: 124.26
Comment:
RSI shows the possibility of an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 135.21 | 128.40 |
| 133.00 | 125.88 |
| 131.55 | 124.34 |
