Source: PaxForex Premium Analytics Portal, Technical Insight
EUR/JPY remains under pressure and is testing 128.00.
EUR/JPY,D1
Pivot: 128.04
Analysis:
While the price is below 129.20, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 128.04
- Take Profit 1: 127.84
- Take Profit 2: 127.03
Alternative scenario:
If the level 129.20 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 129.20
- Take profit 1: 130.20
- Take Profit 2: 131.00
Comment:
RSI shows the possibility of a downtrend in the medium term.
Key levels:
| Resistance | Support |
| 131.00 | 127.84 |
| 130.20 | 127.03 |
| 129.20 | 126.50 |
