Source: PaxForex Premium Analytics Portal, Technical Insight
The BoJ rate-hike uncertainty and a positive risk tone undermine the JPY, lending some support.
EUR/JPY,D1
Pivot: 161.93
Analysis:
While the price is below 163.00, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 161.93
- Take Profit 1: 158.00
- Take Profit 2: 155.00
Alternative scenario:
If the level 163.00 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 163.00
- Take profit 1: 165.00
- Take Profit 2: 167.00
Comment:
RSI shows the possibility of a downtrend in the medium term.
Key levels:
| Resistance | Support |
| 167.00 | 158.00 |
| 165.00 | 155.00 |
| 163.00 | 153.00 |
