EUR/JPY analysis: Bulls could prevail

Dukascopy Bank Team Dukascopy Bank SA

EUR/JPY

On Tuesday, the common European currency edged higher by 55 pips or 0.41% against the Japanese Yen. The 50– hour simple moving average continued to pressure the currency pair higher.

Technical indicators suggest buying signals on the 4H, daily, and weekly time-frame charts. Buyers are likely to target the 134.00 level during the following trading session.

On the other hand, the currency exchange rate might make a retracement towards the 132.81 area within this session.

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Dukascopy Bank Team

Dukascopy Bank SA

Dukascopy Bank stands as an innovative Swiss online banking institution, with its headquarters situated in Geneva, Switzerland.

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