EUR/JPY

The Eurozone single currency surged by 94 pips or 0.76% against the Japanese Yen on Thursday. The currency pair reversed from a support cluster formed by the 50-, 100– and 200– hour SMAs during yesterday's trading session.

As for today's session, bullish traders could continue to push the exchange rate higher. The potential target will be near 4 hours time-frame resistance level at 124.90.

Although, the weekly resistance level at 124.59 could provide a barrier for the EUR/JPY currency exchange rate within the following trading session.

EURJPY

 

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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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