EUR/JPY analysis: Bounces off support

Dukascopy Bank Team Dukascopy Bank SA

EUR/JPY

The common European currency fell by 46 pips or 0.35% against the Japanese Yen on Thursday. The currency pair tested the 130.03 level during Thursday's trading session.

The exchange rate bounced off from the support line at 130.03 during the Asian session on Friday. Most likely, the EUR/JPY pair could continue to edge higher during the following trading session.

However, a resistance cluster near the 130.28 area could provide resistance for the currency exchange rate in the shorter term.

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Dukascopy Bank Team

Dukascopy Bank SA

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