Source: PaxForex Premium Analytics Portal, Technical Insight
ECB’s de Cos: We could start cutting rates in June but it is conditional on the data.
EUR/JPY,D1
Pivot: 164.55
Analysis:
While the price is above 161.00, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 164.55
- Take Profit 1: 166.00
- Take Profit 2: 168.00
Alternative scenario:
If the level 161.00 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 161.00
- Take profit 1: 159.00
- Take Profit 2: 158.00
Comment:
RSI shows the possibility of an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 170.00 | 161.00 |
| 168.00 | 159.00 |
| 166.00 | 158.00 |
