EUR/JPY | Euro to Japanese Yen Trading Analysis

Source: PaxForex Premium Analytics Portal, Technical Insight

European Central Bank (ECB) board member Robert Holzmann said in an interview with NNZ: "The ECB may raise rates before it stops buying bonds."

EUR/JPY,D1

Pivot: 130.16

Analysis:

While the price is below 132.56, follow the recommendations below:

• Time frame: D1
• Recommendation: short position
• Entry point: 130.16
• Take Profit 1: 128.25
• Take Profit 2: 125.73

Alternative scenario:

If the level 132.56 is broken-out, follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 132.56
• Take profit 1: 135.61
• Take Profit 2: 137.42

Comment:

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

Key levels: