EUR/JPY | Euro to Japanese Yen Trading Analysis

Source: PaxForex Premium Analytics Portal, Technical Insight

Shimuzu, Bank of Japan: Inflation in Japan will clearly accelerate due to higher energy and commodity prices.

EUR/JPY,D1

Pivot: 126.42

Analysis:

While the price is above 125.10, follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 126.42
• Take Profit 1: 127.50
• Take Profit 2: 130.40

Alternative scenario:

If the level 125.10 is broken-down, follow the recommendations below:

• Time frame: D1
• Recommendation: short position
• Entry point: 125.10
• Take profit 1: 124.30
• Take Profit 2: 122.75

Comment:

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

Key levels: