EUR/JPY analysis: Bears likely to prevail
|EUR/JPY
The common European currency declined by 173 pips or 1.30% against the Japanese Yen on Thursday. The currency pair tested the 131.00 level during Thursday's trading session.
Bears will most likely continue to pressure the exchange rate lower during the following trading session. The potential target for sellers would be near the 130.50 level.
However, the EUR/JPY currency exchange rate could reverse from the current price level at 131.16 and target the 50– hour simple moving average at 132.37 within this session.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.