Source: PaxForex Premium Analytics Portal, Technical Insight
The hawkish comments from the Bank of Japan’s Governor Kazuo Ueda fail to boost the JPY as traders await clearer guidance on the future rate path.
EUR/JPY,D1
Pivot: 161.18
Analysis:
While the price is below 163.00, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 161.18
- Take Profit 1: 158.00
- Take Profit 2: 155.00
Alternative scenario:
If the level 163.00 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 163.00
- Take profit 1: 165.00
- Take Profit 2: 167.00
Comment:
RSI shows the possibility of a downtrend in the medium term.
Key levels:
| Resistance | Support |
| 167.00 | 158.00 |
| 165.00 | 155.00 |
| 163.00 | 153.00 |
