Source: PaxForex Premium Analytics Portal, Technical Insight
EUR/JPY consolidates the biggest daily loss in a fortnight, also probing the previous day’s U-turn from a three-week top, as it defends the 144.00 threshold during early Wednesday.
EUR/JPY,D1
Pivot: 144.08
Analysis:
While the price is below 145.50, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 144.08
- Take Profit 1: 142.50
- Take Profit 2: 141.00
Alternative scenario:
If the level 145.50 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 145.50
- Take profit 1: 147.50
- Take Profit 2: 147.80
Comment:
RSI shows the possibility of a downtrend in the medium term.
Key levels:
| Resistance | Support |
| 147.80 | 142.50 |
| 147.00 | 141.00 |
| 145.50 | 140.00 |
