Source: PaxForex Premium Analytics Portal, Technical Insight

The EUR/JPY has sensed barricades around 143.40 after a less-confident pullback in the early Asian session. The asset witnessed a steep fall on Tuesday after failing to recapture the critical resistance of 144.47.

EUR/JPY,D1

Pivot: 143.28

Analysis:

While the price is above 141.30, follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 143.28
• Take Profit 1: 144.25
• Take Profit 2: 145.60

Alternative scenario:

If the level 141.30 is broken-down, follow the recommendations below:

• Time frame: D1
• Recommendation: short position
• Entry point: 141.30
• Take profit 1: 140.50
• Take Profit 2: 139.50

Comment:

RSI shows the possibility of an uptrend in the medium term.

Key levels: