EUR/JPY | Euro to Japanese Yen Trading Analysis

Source: PaxForex Premium Analytics Portal, Technical Insight

ECB, Villeroy: Inflation in France and the euro area is about to peak.

EUR/JPY,D1

Pivot: 131.02

Analysis:

While the price is above 127.70, follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 131.02
• Take Profit 1: 132.00
• Take Profit 2: 133.55

Alternative scenario:

If the level 127.70 is broken-down, follow the recommendations below:

• Time frame: D1
• Recommendation: short position
• Entry point: 127.70
• Take profit 1: 124.92
• Take Profit 2: 123.26

Comment:

RSI shows the possibility of an uptrend in the medium term.

Key levels: