Source: PaxForex Premium Analytics Portal, Technical Insight
The Bank of Japan (BOJ), as expected, decided to keep its policy unchanged at the monetary policy meeting (MPM) and lowered its forecast for the economy due to the impact of COVID-19 on March 18, 2022.
EUR/JPY,D1
Pivot: 133.65
Analysis:
While the price is above 128.30, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 133.65
- Take Profit 1: 134.10
- Take Profit 2: 135.50
Alternative scenario:
If the level 128.30 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 128.30
- Take profit 1: 126.40
- Take Profit 2: 124.30
Comment:
RSI shows the possibility of an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 136.61 | 128.30 |
| 135.50 | 126.40 |
| 134.10 | 124.30 |
