Source: PaxForex Premium Analytics Portal, Technical Insight
On Wednesday, the Bank of Japan Deputy Governor Ryozo Himino said that the financial and capital markets remain unstable and the Japanese central bank needs to monitor these developments with utmost vigilance.
Pivot: 191.17
Analysis:
As long as the price is above 189.00 follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 191.17
- Take profit 1: 194.00
- Take Profit 2: 196.00
Alternative scenario:
If the level of 189.00 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 189.00
- Take profit 1: 187.00
- Take profit 2: 185.00
Comment:
RSI indicates the potential for an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 198.00 | 189.00 |
| 196.00 | 187.00 |
| 194.00 | 185.00 |
