EURJPY

The common European currency has depreciated about 50 base points against the Japanese since yesterday's trading session. A breakout occurred through the lower boundary of an ascending channel pattern at 122.12 during the morning hours of Friday's trading session.

Given that a breakout had occurred, it is likely that the EUR/JPY currency pair will continue its downward momentum within this session. Bears could aim for the weekly S1 at 121.38.

Meanwhile, technical indicators flash sell signals on the 4(H) time-frame chart.

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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