Source: PaxForex Premium Analytics Portal, Technical Insight
EUR/JPY rallies above 158.00 as BoJ stays with dovish stance
EUR/JPY,D1
Pivot: 157.43
Analysis:
While the price is below 159.50, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 157.43
- Take Profit 1: 156.00
- Take Profit 2: 154.00
Alternative scenario:
If the level 159.50 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 159.50
- Take profit 1: 160.80
- Take Profit 2: 162.00
Comment:
RSI shows the possibility of a downtrend in the medium term.
Key levels:
| Resistance | Support |
| 162.00 | 156.00 |
| 160.80 | 154.60 |
| 159.50 | 153.00 |
