Source: PaxForex Premium Analytics Portal, Technical Insight
The EUR/JPY pair has faced barricades around 145.00 after a recovery move in the Tokyo session. It looks like the cross has retreated on expectations that Bank of Japan (BoJ) Governor Haruhiko Kuroda could tweak the Yields Curve Control (YCC) on Japanese Government Bonds (JGBs), in his last monetary policy announcement.
EUR/JPY,D1
Pivot: 145.00
Analysis:
While the price is above 143.00, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 145.00
- Take Profit 1: 145.60
- Take Profit 2: 147.00
Alternative scenario:
If the level 143.00 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 143.00
- Take profit 1: 141.50
- Take Profit 2: 140.00
Comment:
RSI shows the possibility of an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 148.50 | 143.00 |
| 147.00 | 141.50 |
| 145.60 | 140.00 |
