Source: PaxForex Premium Analytics Portal, Technical Insight
The EUR/JPY pair is oscillating in a narrow range of 141.40-141.65 in the early Tokyo session. On Tuesday, the asset rebounded firmly after testing the round-level cushion of 141.00 with lower selling pressures.
EUR/JPY,D1
Pivot: 141.50
Analysis:
While the price is above 141.00, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 141.50
- Take Profit 1: 145.65
- Take Profit 2: 147.00
Alternative scenario:
If the level 141.00 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 141.00
- Take profit 1: 138.50
- Take Profit 2: 136.80
Comment:
RSI shows the possibility of an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 148.00 | 141.00 |
| 147.00 | 138.50 |
| 145.65 | 136.80 |
