Source: PaxForex Premium Analytics Portal, Technical Insight
ECB Survey: Consumers see inflation lower for year ahead at 2.9% in April.
EUR/JPY,D1
Pivot: 170.50
Analysis:
While the price is above 167.00, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 170.50
- Take Profit 1: 171.00
- Take Profit 2: 173.00
Alternative scenario:
If the level 167.00 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 167.00
- Take profit 1: 164.00
- Take Profit 2: 163.00
Comment:
RSI shows the possibility of an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 175.00 | 167.00 |
| 173.00 | 164.00 |
| 171.00 | 163.00 |
