Source: PaxForex Premium Analytics Portal, Technical Insight
EUR/JPY is leaving behind two consecutive daily pullbacks and advancing above Tuesday's 136.00 level. If the recovery becomes more serious, the cross should meet the next barrier at the 100-day SMA at 138.08 before the more current August peak at 138.39 (August 10).
EUR/JPY,D1
Pivot: 136.54
Analysis:
While the price is above 135.00, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 136.54
- Take Profit 1: 138.00
- Take Profit 2: 139.30
Alternative scenario:
If the level 135.00 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 135.00
- Take profit 1: 134.35
- Take Profit 2: 133.35
Comment:
RSI shows the possibility of an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 140.70 | 135.00 |
| 139.30 | 134.35 |
| 138.00 | 133.35 |
