Source: PaxForex Premium Analytics Portal, Technical Insight

Head of Bank of Japan Kuroda: risks to the economy and inflation remain downward:

• Japan's economy is in a tough situation, but is recovering;
• The Japanese economy will continue to stabilize;
• Prices will rise as the economy recovers;
• We will continue to pursue a soft policy in order to get inflation to the 2% target.

USD/JPY, 30 min

Pivot: 108.87

Analysis:

Provided that the currency pair is traded above 108.60, follow the recommendations below:

• Time frame: 30 min
• Recommendation: long position
• Entry point: 108.87
• Take Profit 1: 109.10
• Take Profit 2: 109.25

Alternative scenario: 

In case of breakdown of the level 108.60, follow the recommendations below:

• Time frame: 30 min
• Recommendation: short position
• Entry point: 108.60
• Take Profit 1: 108.45
• Take Profit 2: 108.30

Comment:

Technically RSI shows the possibility of an uptrend during the day. 

Key levels:

USD/JPY, D1

Pivot: 109.02

Analysis:

While the price is above 108.00, follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 109.02
• Take Profit 1: 111.35
• Take Profit 2: 112.20

Alternative scenario:

If the level 108.00 is broken-down, follow the recommendations below:

• Time frame: D1
• Recommendation: short position
• Entry point: 108.00
• Take Profit 1: 107.00
• Take Profit 2: 106.10

Comment:

RSI shows a medium-term uptrend.

Key levels:

We also advise you to pay attention to the following currency pairs for intraday trading:

EUR/USD – sell below 1.1975 with 1.1920 and 1.1900 targets as Take Profit. Alternative scenario - if the level 1.1975 is broken-out, buy with the TP 1.1990 and 1.1975.
GBP/USD - short positions below 1.3785 with 1.3725 and 1.3710 targets as Take Profit. Alternative scenario - if the level of 1.3785 is broken-out, buy with the targets 1.3810 and 1.3830 as Take Profit.
USD/CHF - buy above 0.9210 with 0.9245 and 0.9260 as Take Profit targets. Alternative scenario - if the level of 0.9210 is broken-down, you should consider selling with the targets 0.9195 and 0.9180 as Take Profit.