Source: PaxForex Premium Analytics Portal, Technical Insight
The Bank of Japan (BOJ) "should continue to support the economy with its current strong monetary policy easing," said Shinichi Uchida, the central bank's executive director for monetary policy, in a speech Tuesday.
EUR/JPY,D1
Pivot: 137.37
Analysis:
While the price is above 134.25, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 137.37
- Take Profit 1: 138.30
- Take Profit 2: 140.00
Alternative scenario:
If the level 134.25 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 134.25
- Take profit 1: 132.65
- Take Profit 2: 130.45
Comment:
RSI shows the possibility of an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 141.50 | 134.25 |
| 140.00 | 132.65 |
| 137.60 | 130.45 |
