Source: PaxForex Premium Analytics Portal, Technical Insight
EUR/JPY rises above the key barrier at 129.00 after an upside reversal. The pair rose for the second session in a row and has already managed to take the 129.00 level again on the background of stronger demand for the dollar and recovery of the treasury yields.
EUR/JPY,D1
Pivot: 129.27
Analysis:
While the price is above 128.36, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 129.27
- Take Profit 1: 130.27
- Take Profit 2: 131.00
Alternative scenario:
If the level 128.36 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 128.36
- Take profit 1: 126.72
- Take Profit 2: 125.75
Comment:
RSI shows the possibility of an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 132.10 | 128.36 |
| 131.00 | 126.72 |
| 130.27 | 125.75 |
