Source: PaxForex Premium Analytics Portal, Technical Insight
EUR/JPY is trading in the 160.20s, up almost 0.40% on Tuesday, after the announcement of substantial new stimulus measures by China revived the carry trade.
EUR/JPY,D1
Pivot: 159.92
Analysis:
While the price is above 157.00, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 156.92
- Take Profit 1: 163.00
- Take Profit 2: 165.00
Alternative scenario:
If the level 157.00 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 157.00
- Take profit 1: 155.00
- Take Profit 2: 153.00
Comment:
RSI shows the possibility of an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 167.00 | 157.00 |
| 165.00 | 155.00 |
| 163.00 | 153.00 |
