Source: PaxForex Premium Analytics Portal, Technical Insight
EUR/JPY snaps two-day losing streak below 156.00 amid firmer yields, ignores IMF’s push for hawkish BoJ move.
EUR/JPY,D1
Pivot: 155.95
Analysis:
While the price is above 151.60, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 155.95
- Take Profit 1: 156.85
- Take Profit 2: 159.00
Alternative scenario:
If the level 151.60 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 151.60
- Take profit 1: 150.40
- Take Profit 2: 148.60
Comment:
I shows the possibility of an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 163.00 | 151.60 |
| 159.00 | 151.60 |
| 156.85 | 148.60 |
