EUR/JPY | Euro to Japanese Yen Trading Analysis

Source: PaxForex Premium Analytics Portal, Technical Insight

EUR/JPY was able to continue the rally which started after the NFP report and reached 130.20, before going back to 130.60.

EUR/JPY,D1

Pivot: 130.57

Analysis:

While the price is above 129.20, follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 130.57
• Take Profit 1: 131.00
• Take Profit 2: 132.22

Alternative scenario:

If the level 129.20 is broken-down, follow the recommendations below:

• Time frame: D1
• Recommendation: short position
• Entry point: 129.20
• Take profit 1: 127.84
• Take Profit 2: 127.03

Comment:

RSI shows the possibility of an uptrend in the medium term.

Key levels: