Source: PaxForex Premium Analytics Portal, Technical Insight

Bank of Japan: chances of inflation rising to 2% as price increases become more widespread.

EUR/JPY,D1

Pivot: 128.73

Analysis:

While the price is above 128.40, follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 128.73
• Take Profit 1: 130.00
• Take Profit 2: 131.55

Alternative scenario:

If the level 128.40 is broken-down, follow the recommendations below:

• Time frame: D1
• Recommendation: short position
• Entry point: 128.40
• Take profit 1: 125.81
• Take Profit 2: 124.26

Comment:

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

Key levels: