Source: PaxForex Premium Analytics Portal, Technical Insight
The big central banks are in the spotlight this week, with the ECB possibly indicating a possible increase in bond purchases.
EUR/JPY,D1
Pivot: 127.98
Analysis:
While the price is above 126.06, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 127.98
- Take Profit 1: 129.00
- Take Profit 2: 131.19
Alternative scenario:
If the level 126.06 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 126.06
- Take profit 1: 123.63
- Take Profit 2: 122.19
Comment:
RSI shows the possibility of an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 132.63 | 126.06 |
| 131.19 | 123.63 |
| 129.00 | 122.19 |
