Source: PaxForex Premium Analytics Portal, Technical Insight
Speaking on the sidelines of the World Economic Forum (WEF) Annual Meeting in Davos, European Central Bank (ECB) President Christine Lagarde said that she is “confident inflation will reach the 2.0% target.”
EUR/JPY,D1
Pivot: 160.77
Analysis:
While the price is above 157.00, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 160.77
- Take Profit 1: 161.00
- Take Profit 2: 162.00
Alternative scenario:
If the level 157.00 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 157.00
- Take profit 1: 156.00
- Take Profit 2: 155.00
Comment:
RSI shows the possibility of an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 163.00 | 157.00 |
| 162.00 | 156.00 |
| 161.00 | 155.00 |
