Source: PaxForex Premium Analytics Portal, Technical Insight
EUR/JPY traces firmer yields above 157.00, Eurozone inflation clues, Japan intervention eyed.
EUR/JPY,D1
Pivot: 157.34
Analysis:
While the price is above 155.00, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 157.34
- Take Profit 1: 159.00
- Take Profit 2: 161.00
Alternative scenario:
If the level 155.00 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 155.00
- Take profit 1: 152.30
- Take Profit 2: 150.40
Comment:
RSI shows the possibility of an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 163.00 | 155.00 |
| 161.00 | 152.30 |
| 159.00 | 150.40 |
