Source: PaxForex Premium Analytics Portal, Technical Insight
The EUR/JPY pair has extended its recovery above the immediate hurdle of 143.50 in the Asian session. Earlier, the cross resurfaced firmly after building a cushion marginally above 143.00.
EUR/JPY,D1
Pivot: 143.31
Analysis:
While the price is below 145.50, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 143.31
- Take Profit 1: 142.50
- Take Profit 2: 141.00
Alternative scenario:
If the level 145.50 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 145.50
- Take profit 1: 147.50
- Take Profit 2: 147.80
Comment:
RSI shows the possibility of a downtrend in the medium term.
Key levels:
| Resistance | Support |
| 147.80 | 142.50 |
| 147.00 | 141.00 |
| 145.50 | 140.00 |
