The EUR/JPY pair is oscillating in a narrow range of 141.40-141.65 in the early Tokyo session. On Tuesday, the asset rebounded firmly after testing the round-level cushion of 141.00 with lower selling pressures.
Our Analysis:
While the price is above 141.00, follow the recommendations below:
Time frame: D1
Recommendation: long position
Entry point: 141.50
Take Profit 1: 145.65
Take Profit 2: 147.00
Alternative scenario:
If the level 141.00 is broken-down, follow the recommendations below:
Risk Warning: Forex and CFD trading carry a high degree of risk. As such they may not be suitable for all investors. Investors should ensure they fully understand the risks associated with CFD trading before deciding to trade. Investors may choose to seek independent advice and should not risk more than they are prepared to lose.
