EUR/JPY analysis: Buying signals

Dukascopy Bank Team Dukascopy Bank SA

EUR/JPY

The single European currency soared against the Japanese Yen on Tuesday. The EUR/JPY currency pair edged higher by 103 basis points or 0.83% during yesterday's trading session.

Technical indicators suggest buying signals on all time-frame charts. Most likely, bullish traders will continue to pressure the exchange rate higher during the following trading session. The possible target for bulls would be at the 125.60 level.

However, a resistance level at 125.40 could pressure the currency exchange rate lower in the shorter term.

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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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