EUR/JPY | Euro to Japanese Yen Trading Analysis

Source: PaxForex Premium Analytics Portal, Technical Insight

ECB, Knot: conditions for a rate hike are unlikely to be met in 2022.

EUR/JPY,D1

Pivot: 130.82

Analysis:

While the price is below 133.15, follow the recommendations below:

• Time frame: D1
• Recommendation: short position
• Entry point: 130.82
• Take Profit 1: 130.00
• Take Profit 2: 127.79

Alternative scenario:

If the level 133.15 is broken-out, follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 133.15
• Take profit 1: 135.57
• Take Profit 2: 137.01

Comment:

RSI shows the possibility of a downtrend in the medium term.

Key levels: