EUR/JPY | Euro to Japanese Yen Trading Analysis
EUR/JPY | Euro to Japanese Yen Trading Analysis
Written by: PaxForex analytics dept - Wednesday, 27 October 2021 0 comments
Source: PaxForex Premium Analytics Portal, Technical Insight
The EUR/JPY seems to have regained its bullish momentum, reversing after another pullback and may target 133.50.
EUR/JPY,D1
Pivot: 133.27
Analysis:
While the price is above 130.76, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 133.27
- Take Profit 1: 134.00
- Take Profit 2: 135.82
Alternative scenario:
If the level 130.76 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 130.76
- Take profit 1: 128.44
- Take Profit 2: 127.06
Comment:
RSI shows the possibility of an uptrend in the medium term.
Key levels:
Resistance | Support |
137.21 | 130.76 |
135.82 | 128.44 |
134.00 | 127.06 |