EUR/JPY analysis: Buying signals
|EUR/JPY
The common European currency surged by 77 basis points or 0.63% against the Japanese Yen on Tuesday. The currency pair breached the weekly R1 at 122.98 during yesterday's trading session.
Technical indicators flash buying signals on the smaller and the larger time-frame charts. Therefore, bulls are likely to pressure the exchange rate past the 123.40 level within this session.
On the other hand, the currency exchange rate could reverse from the current price level at 123.21 and target the 50– hour simple moving average at 122.86 today.
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.