Source: PaxForex Premium Analytics Portal, Technical Insight
The ECB is broadly expected to keep rates on hold on Thursday as policymakers wait to see if data will improve following an initial quarter-point cut in June.
EUR/JPY,D1
Pivot: 172.10
Analysis:
While the price is above 171.00, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 172.10
- Take Profit 1: 175.00
- Take Profit 2: 177.00
Alternative scenario:
If the level 171.00 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 171.00
- Take profit 1: 169.00
- Take Profit 2: 167.00
Comment:
RSI shows the possibility of an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 178.00 | 171.00 |
| 177.00 | 169.00 |
| 175.00 | 167.00 |
