Current price: 160.90
Key point: 161.85
Our preferred direction: sell positions below 161.85 levels, targeting 160.00 as the first target, then 159.00 as the second target.
Alternative scenario: Stop loss and change the trend by breaking the 161.85 level, targeting 162.50 levels.
Technical commentary
The euro/yen pair fell by approximately 0.6% from the beginning of the week's trading. With the Central Bank of Japan’s decisions today to set interest levels at -0.10%
The pair fell from the upper border of the ascending channel from last month's bottom, then penetrated another channel from the current month's bottom, so the pair is currently targeting 160.00 levels, then 159.00 levels.
