Source: PaxForex Premium Analytics Portal, Technical Insight

EUR/JPY recovers losses on possible Japanese intervention, trades around 164.10.

EUR/JPY,D1

Pivot: 164.13

Analysis:

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

• Time frame: D1
• Recommendation: long position
• Entry point: 164.13
• 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: