Source: PaxForex Premium Analytics Portal, Technical Insight

The EUR/JPY continues to consolidate within a rising wedge, though finished with minuscule losses of 0.04% on Tuesday, on a risk-on sentiment. As the Asian session begins, the EUR/JPY is trading at 145.48, barely gaining 0.01%.

EUR/JPY,D1

Pivot: 146.04

Analysis:

While the price is above 144.00, follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 146.04
• Take Profit 1: 149.00
• Take Profit 2: 151.00

Alternative scenario:

If the level 144.00 is broken-down, follow the recommendations below:

• Time frame: D1
• Recommendation: short position
• Entry point: 144.00
• Take profit 1: 142.50
• Take Profit 2: 141.00

Comment:

RSI shows the possibility of an uptrend in the medium term.

Key levels: