EUR/JPY | Euro to Japanese Yen Trading Analysis

Source: PaxForex Premium Analytics Portal, Technical Insight

Former BoJ official: The central bank is likely to raise its price forecast.

EUR/JPY,D1

Pivot: 138.56

Analysis:

While the price is below 139.40, follow the recommendations below:

• Time frame: D1
• Recommendation: short position
• Entry point: 138.56
• Take Profit 1: 136.70
• Take Profit 2: 134.70

Alternative scenario:

If the level 139.40 is broken-out, follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 139.40
• Take profit 1: 141.50
• Take Profit 2: 144.20

Comment:

RSI shows the possibility of a downtrend in the medium term.

Key levels: