EURJPY

The common European currency appreciated about 68 base points against the Japanese Yen on Wednesday. The currency pair maintained a junior ascending channel pattern during yesterday's trading session.

Today's session began with a bullish sentiment. By the middle of the day, a breakout had occurred through the upper boundary of the junior ascending channel pattern.

Given that a breakout has occurred, it is likely that the currency exchange rate aims for a resistance level at 126.76 within this trading session.

If the pair reaches the resistance line as mentioned above, a pullback could be expected.

EURJPY

EURJPY

This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.

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