Source: PaxForex Premium Analytics Portal, Technical Insight
The Japanese Yen attracts some buyers for the second straight day on Wednesday, though lacks follow-through amid the uncertainty about the Bank of Japan's policy outlook.
Pivot: 190.43
Analysis:
As long as the price is above 186.00 follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 190.43
- Take profit 1: 192.00
- Take Profit 2: 194.00
Alternative scenario:
If the level of 186.00 is broken-down , follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 186.00
- Take profit 1: 184.00
- Take profit 2: 183.00
Comment:
RSI indicates the potential for an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 196.00 | 186.00 |
| 194.00 | 184.00 |
| 192.00 | 183.00 |
