Source: PaxForex Premium Analytics Portal, Technical Insight
EUR/JPY is off to a bearish start to the week, slipping below 137.00 today. The cross has probably entered a consolidation phase waiting for further catalysts in the short term.
EUR/JPY,D1
Pivot: 136.84
Analysis:
While the price is above 134.25, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 136.84
- Take Profit 1: 137.60
- Take Profit 2: 140.00
Alternative scenario:
If the level 134.25 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 134.25
- Take profit 1: 132.65
- Take Profit 2: 130.45
Comment:
RSI shows the possibility of an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 141.50 | 134.25 |
| 140.00 | 132.65 |
| 137.60 | 130.45 |
