Source: PaxForex Premium Analytics Portal, Technical Insight
Japan's Vice Finance Minister Masato Kanda reiterated that the government is prepared to take appropriate action if excessive currency fluctuations have a negative impact on the national economy.
EUR/JPY,D1
Pivot: 170.97
Analysis:
While the price is above 168.00, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 170.97
- Take Profit 1: 173.00
- Take Profit 2: 174.50
Alternative scenario:
If the level 168.00 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 168.00
- Take profit 1: 165.50
- Take Profit 2: 164.00
Comment:
RSI shows the possibility of an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 176.00 | 168.00 |
| 174.50 | 165.50 |
| 173.00 | 164.00 |
