Source: PaxForex Premium Analytics Portal, Technical Insight
President Lagarde stated at a Berlin event that it is too early to declare victory over inflation and that bets based on short-term data flow are premature.
EUR/JPY,D1
Pivot: 162.33
Analysis:
While the price is above 161.00, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 162.33
- Take Profit 1: 164.50
- Take Profit 2: 166.00
Alternative scenario:
If the level 161.00 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 161.00
- Take profit 1: 159.60
- Take Profit 2: 158.00
Comment:
RSI shows the possibility of an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 167.00 | 161.00 |
| 166.00 | 159.60 |
| 164.50 | 158.00 |
