Source: PaxForex Premium Analytics Portal, Technical Insight
The Head of the Bank of Japan predicts a softer Japanese Yen (JPY) and excludes negative consequences for the economy.
EUR/JPY,D1
Pivot: 129.94
Analysis:
While the price is below 131.84, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 129.94
- Take Profit 1: 129.00
- Take Profit 2: 127.01
Alternative scenario:
If the level 131.84 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 131.84
- Take profit 1: 134.080
- Take Profit 2: 135.42
Comment:
RSI shows the possibility of a downtrend in the medium term.
Key levels:
| Resistance | Support |
| 135.42 | 129.00 |
| 134.08 | 127.01 |
| 131.84 | 125.67 |
