Source: PaxForex Premium Analytics Portal, Technical Insight
EUR/JPY attracts some sellers below 157.50 ahead of Eurozone inflation data.
EUR/JPY,D1
Pivot: 157.86
Analysis:
While the price is below 160.00, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 157.86
- Take Profit 1: 155.00
- Take Profit 2: 153.00
Alternative scenario:
If the level 160.00 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 160.00
- Take profit 1: 163.00
- Take Profit 2: 165.00
Comment:
RSI shows the possibility of a downtrend in the medium term.
Key levels:
| Resistance | Support |
| 165.00 | 155.00 |
| 163.00 | 153.00 |
| 160.00 | 151.00 |
