EUR/JPY | Euro to Japanese Yen Trading Analysis

Source: PaxForex Premium Analytics Portal, Technical Insight

EUR/JPY bears take a breather at a three-month low, picking up bids to 140.30 heading into Wednesday’s European session.

EUR/JPY,D1

Pivot: 140.31

Analysis:

While the price is below 140.80, follow the recommendations below:

• Time frame: D1
• Recommendation: short position
• Entry point: 140.31
• Take Profit 1: 138.80
• Take Profit 2: 137.80

Alternative scenario:

If the level 140.80 is broken-out, follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 140.80
• Take profit 1: 142.60
• Take Profit 2: 143.80

Comment:

RSI shows the possibility of a downtrend in the medium term.

Key levels: