EUR/JPY | Euro to Japanese Yen Trading Analysis

Source: PaxForex Premium Analytics Portal, Technical Insight

EUR/JPY: broadening formation suggests downward pressure lies ahead.

EUR/JPY,D1

Pivot: 138.11

Analysis:

While the price is below 140.80, follow the recommendations below:

• Time frame: D1
• Recommendation: short position
• Entry point: 138.11
• Take Profit 1: 137.80
• Take Profit 2: 136.50

Alternative scenario:

If the level 140.80 is broken-down, follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 140.80
• Take profit 1: 143.80
• Take Profit 2: 145.60

Comment:

RSI shows the possibility of a downtrend in the medium term

Key levels: