Source: PaxForex Premium Analytics Portal, Technical Insight
EUR/JPY has been in a prolonged uptrend since early March, generating consecutive multi-year peaks. However, the pair has been consolidating in the last few daily sessions as its rally paused at the eight-year high of 148.39.
EUR/JPY,D1
Pivot: 146.70
Analysis:
While the price is above 144.00, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 146.70
- Take Profit 1: 149.00
- Take Profit 2: 151.00
Alternative scenario:
If the level 144.00 is broken-down, follow the recommendations below::
- Time frame: D1
- Recommendation: short position
- Entry point: 144.00
- Take profit 1: 142.50
- Take Profit 2: 141.00
Comment:
RSI shows the possibility of an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 152.00 | 144.00 |
| 151.00 | 142.50 |
| 149.00 | 141.80 |
