Source: PaxForex Premium Analytics Portal, Technical Insight
The EUR/JPY continues extending its gains, eyeing December’s 2013 high of 149.78, while the Japanese yen continues to weaken, despite further verbal interventions by Japanese authorities, which have failed to move the markets in favor of the battered yen.
EUR/JPY,D1
Pivot: 147.10
Analysis:
While the price is above 141.00, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 147.10
- Take Profit 1: 148.00
- Take Profit 2: 149.00
Alternative scenario:
If the level 141.00 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 141.00
- Take profit 1: 138.50
- Take Profit 2: 136.80
Comment:
RSI shows the possibility of an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 150.00 | 141.00 |
| 149.00 | 138.50 |
| 148.00 | 136.80 |
