Source: PaxForex Premium Analytics Portal, Technical Insight

The EUR/JPY rose towards 165.64 in Tuesday’s session, its highest level since 2008, showcasing clear bullish signals that point to further gains.

EUR/JPY,D1

Pivot: 165.69

Analysis:

While the price is above 161.00, follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 165.69
• Take Profit 1: 166.00
• Take Profit 2: 168.00

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: 159.00
• Take Profit 2: 158.00

Comment:

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

Key levels: