EUR/JPY | Euro to Japanese Yen Trading Analysis

Source: PaxForex Premium Analytics Portal, Technical Insight

Bank of Japan report: Japan import prices continue to rise steadily.

EUR/JPY,D1

Pivot: 129.73

Analysis:

While the price is above 128.40, follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 129.73
• Take Profit 1: 131.55
• Take Profit 2: 133.00

Alternative scenario:

If the level 128.40 is broken-down, follow the recommendations below:

• Time frame: D1
• Recommendation: short position
• Entry point: 128.40
• Take profit 1: 125.81
• Take Profit 2: 124.26

Comment:

RSI shows the possibility of an uptrend in the medium term.

Key levels: