Source: PaxForex Premium Analytics Portal, Technical Insight

The EUR/JPY pair is displaying a lackluster performance in early Asia as investors await the speech from European Central Bank (ECB) President Christine Lagarde for fresh impetus.

EUR/JPY,D1

Pivot: 143.69

Analysis:

While the price is below 145.50, follow the recommendations below:

• Time frame: D1
• Recommendation: short position
• Entry point: 143.69
• Take Profit 1: 142.50
• Take Profit 2: 141.00

Alternative scenario:

If the level 145.50 is broken-out, follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 145.50
• Take profit 1: 147.50
• Take Profit 2: 147.80

Comment:

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

Key levels: