EUR/JPY analysis: Bounces off support
|EUR/JPY
The single European currency declined by 54 pips or 0.41% against the Japanese Yen on Monday. The decline was stopped by the 50– hour simple moving average during Monday's trading session.
The exchange rate bounced off the 50– hour SMA at 132.00 during the Asian session on Tuesday. Most likely, the EUR/JPY currency pair could edge higher within today's session.
However, the weekly resistance level at 132.49 could provide resistance for the currency exchange rate in the shorter term.
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.