Source: PaxForex Premium Analytics Portal, Technical Insight
The EUR/JPY pair displays a lackluster performance in the early Tokyo session as the cross hovers around 139.00. The asset is expected to re-test the critical support of 137.36, recorded on Monday as the German energy crisis is deepening after a deliberate action to harm the active infrastructure of the Nord Stream 1 pipeline to Germany.
EUR/JPY,D1
Pivot: 138.82
Analysis:
While the price is below 139.40, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 138.82
- Take Profit 1: 137.70
- Take Profit 2: 136.80
Alternative scenario:
If the level 139.40 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 139.40
- Take profit 1: 140.30
- Take Profit 2: 141.25
Comment:
RSI shows the possibility of a downtrend in the medium term.
Key levels:
| Resistance | Support |
| 141.25 | 137.80 |
| 140.30 | 136.80 |
| 139.40 | 135.50 |
