Source: PaxForex Premium Analytics Portal, Technical Insight
EUR/JPY rises for the third consecutive session and at the same time marks multi-week highs near 139.00. The continuation of the uptrend now shifts attention to the key level of 140.00. Next, the cross may try to test the weekly peak at 142.32 (July 21).
EUR/JPY,D1
Pivot: 138.93
Analysis:
While the price is above 135.00, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 138.93
- Take Profit 1: 139.30
- Take Profit 2: 141.30
Alternative scenario:
If the level 135.00 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 135.00
- Take profit 1: 134.35
- Take Profit 2: 133.35
Comment:
RSI shows the possibility of an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 141.70 | 135.00 |
| 141.30 | 134.35 |
| 139.30 | 133.35 |
