Source: PaxForex Premium Analytics Portal, Technical Insight
EUR/JPY drifts higher above 165.50 after BoJ surprises rate hike.
EUR/JPY,D1
Pivot: 165.39
Analysis:
While the price is above 167.00, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 165.39
- Take Profit 1: 164.00
- Take Profit 2: 163.00
Alternative scenario:
If the level 167.00 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 167.00
- Take profit 1: 171.00
- Take Profit 2: 173.00
Comment:
RSI shows the possibility of a downtrend in the medium term.
Key levels:
| Resistance | Support |
| 173.00 | 164.00 |
| 171.00 | 163.00 |
| 167.00 | 162.00 |
