Source: PaxForex Premium Analytics Portal, Technical Insight
Bank of Japan raises interest rate by 15 bps, sets out tapering plan.
Pivot: 196.14
Analysis:
As long as the price is below 199.00 follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 196.14
- Take profit 1: 195.00
- Take Profit 2: 193.00
Alternative scenario:
If the level of 199.00 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 199.00
- Take profit 1: 202.00
- Take profit 2: 204.00
Comment:
RSI indicates the potential for a downtrend in the medium term.
Key levels:
| Resistance | Support |
| 204.00 | 195.00 |
| 202.00 | 193.00 |
| 199.00 | 191.00 |
