Source: PaxForex Premium Analytics Portal, Technical Insight
The EUR/JPY hit a fresh year-to-date (YTD) high at 144.16 on Tuesday, closing the session with gains of 0.26%. However, as Wednesday’s Asian Pacific session begins, the EUR/JPY exchanges hands at 143.70, below its opening price by a minuscule 0.03%.
EUR/JPY,D1
Pivot: 143.58
Analysis:
While the price is above 143.00, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 143.58
- Take Profit 1: 145.60
- Take Profit 2: 147.00
Alternative scenario:
If the level 143.00 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 143.00
- Take profit 1: 141.50
- Take Profit 2: 140.00
Comment:
RSI shows the possibility of an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 148.50 | 143.00 |
| 147.00 | 141.50 |
| 145.60 | 140.00 |
