Source: PaxForex Premium Analytics Portal, Technical Insight
EUR/JPY extends the auspicious start of the week and reclaims the area above the 145.00 barrier on Tuesday. If the corrective bounce gathers extra steam, then the cross should face initial resistance at the so far November high at 147.11 (November 9). The surpass of this level could open the door to a more meaningful move to the 2022 peak at 148.40 (October 21).
EUR/JPY,D1
Pivot: 145.05
Analysis:
While the price is above 144.00, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 145.05
- Take Profit 1: 149.00
- Take Profit 2: 151.00
Alternative scenario:
If the level 144.00 is broken-down, follow the recommendations below::
- Time frame: D1
- Recommendation: short position
- Entry point: 144.00
- Take profit 1: 142.50
- Take Profit 2: 141.00
Comment:
RSI shows the possibility of an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 152.00 | 144.00 |
| 151.00 | 142.50 |
| 149.00 | 141.80 |
