Source: PaxForex Premium Analytics Portal, Technical Insight
The Euro found relief from better-than-expected Economic Sentiment data from the Eurozone and Germany.
EUR/JPY,D1
Pivot: 161.27
Analysis:
While the price is above 159.00, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 161.27
- Take Profit 1: 162.00
- Take Profit 2: 164.00
Alternative scenario:
If the level 159.00 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 159.00
- Take profit 1: 158.00
- Take Profit 2: 157.00
Comment:
RSI shows the possibility of an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 165.00 | 159.00 |
| 164.00 | 158.00 |
| 162.00 | 157.00 |
