Dukascopy Bank Team
Dukascopy Bank SA
EUR/JPY
The single European currency depreciated about 61 base points against the Japanese Yen on Friday. A breakout occurred through the lower boundary of an ascending channel during Friday's trading session.
As for the near future, it is likely that the EUR/JPY currency pair will edge higher during the following trading session. Bullish traders could aim for a resistance level formed by the 200-hour SMA at 122.31.
However, the 50-hour simple moving average at 122.06 could prevent bulls from making some gains within this session.
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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