Source: PaxForex Premium Analytics Portal, Technical Insight
BoJ’s Ueda: Monetary policy does seek not to control forex rates.
EUR/JPY,D1
Pivot: 166.71
Analysis:
While the price is above 165.50, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 166.71
- Take Profit 1: 169.00
- Take Profit 2: 171.00
Alternative scenario:
If the level 165.50 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 165.50
- Take profit 1: 164.00
- Take Profit 2: 163.00
Comment:
RSI shows the possibility of an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 173.00 | 165.50 |
| 171.00 | 164.00 |
| 169.00 | 163.00 |
