EUR/JPY analysis: Bounces off 200-hour SMA
|EUR/JPY
The EUR/JPY currency pair bounced off a support level formed by the 200– hour simple moving average at 129.77 on Monday. As a result, the European single currency surged by 51 pips or 0.40% against the Japanese Yen during Monday's trading session.
All things being equal, the exchange rate could continue to edge higher during the following trading session. The potential target for buyers will be near the weekly resistance level at 130.72.
However, the resistance line at 130.32 could still provide resistance for the currency exchange rate 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.