Source: PaxForex Premium Analytics Portal, Technical Insight
EUR/JPY strives to break above 166.00 as Yen weakens ahead of BoJ policy.
EUR/JPY,D1
Pivot: 165.85
Analysis:
While the price is above 160.00, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 165.85
- Take Profit 1: 168.00
- Take Profit 2: 170.00
Alternative scenario:
If the level 160.00 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 160.00
- Take profit 1: 158.00
- Take Profit 2: 156.00
Comment:
RSI shows the possibility of an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 172.00 | 160.00 |
| 170.00 | 158.00 |
| 168.00 | 156.00 |
