EUR/JPY analysis: Decline likely to continue
|EUR/JPY
Downside risks dominated the EUR/JPY currency pair yesterday. The exchange rate fell by 71 pips or 0.53% during Thursday's trading session.
All things being equal, the Eurozone single currency is likely to continue to weaken against the Japanese Yen during the following trading session. The possible target for the currency exchange rate could be near the 132.53 area.
However, bearish traders may encounter a support line near the weekly S1 at 132.97 during the following trading 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.