Today, the Japanese authorities will prematurely cancel the emergency situation in 39 out of 47 regions of the country. The decision is expected to be taken today by Prime Minister Shinzo Abe after consultations with the Government's counter COVID-19 headquarters.
EUR/JPY, 30 min
Pivot: 115.57
Analysis:
Provided that the currency pair is traded below 115.92, follow the recommendations below:
Time frame: 30 min
Recommendation: short position
Entry point: 115.57
Take Profit 1: 115.05
Take Profit 2: 114.81
Alternative scenario:
In case of breakout of the level 115.92, follow the recommendations below:
Time frame: 30 min
Recommendation: long position
Entry point: 115.92
Take Profit 1: 116.32
Take Profit 2: 116.56
Comment:
RSI is below 50. The MACD is negative and is below its signal line. The configuration is negative. Moreover, the pair is below its 20 and 50 MA (115.70 and 115.96 respectively).
Key levels:
Resistance
Support
116.56
115.05
116.32
114.81
115.92
114.58
EUR/JPY, D1
Pivot: 116.32
Analysis:
While the price is above 113.77, follow the recommendations below:
Time frame: D1
Recommendation: long position
Entry point: 116.32
Take Profit 1: 119.81
Take Profit 2: 121.48
Alternative scenario:
If the level 113.77 is broken-down, follow the recommendations below.
Time frame: D1
Recommendation: short position
Entry point: 113.77
Take Profit 1: 110.98
Take Profit 2: 109.32
Comment:
RSI is below 50. MACD is above the signal line and negative. Configuration is mixed. Moreover, the pair is below its 20 and 50 MA (116.32 and 117.70 respectively).
Key levels:
Resistance
Support
123.15
113.77
121.48
110.98
119.81
109.32
We also advise you to pay attention to the following currency pairs for intra-day trading:
AUD/USD – sell below 0.6465 with 0.6410 and 0.6375 as Take Profit targets. Alternative scenario - if the level of 0.6465 is broken-out, you should consider buying with the targets 0.6495 and 0.6525 as Take Profit. GBP/USD - short positions below 1.2245 with 1.2185 and 1.2165 targets as Take Profit. Alternative scenario - if the level of 1.2245 is broken-out, buy with the targets 1.2270 and 1.2300 as Take Profit. EUR/USD - sell below 1.0825 with 1.0800 and 1.0785 targets as Take Profit. Alternative scenario - if the level 1.0825 is broken-out, buy with the TP 1.0840 and 1.0855.
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