Source: PaxForex Premium Analytics Portal, Technical Insight
EUR/JPY eyes downtrend amid overbought RSI’s, ECB hawks hold back fall.
EUR/JPY,D1
Pivot: 154.92
Analysis:
While the price is above 151.60, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 154.92
- Take Profit 1: 156.00
- Take Profit 2: 158.00
Alternative scenario:
If the level 151.60 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 151.60
- Take profit 1: 150.40
- Take Profit 2: 148.60
Comment:
RSI shows the possibility of an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 160.00 | 151.60 |
| 158.00 | 150.00 |
| 156.00 | 148.60 |
