EUR/JPY analysis: Could still edge higher

Dukascopy Bank Team Dukascopy Bank SA

EUR/JPY

The single European currency surged by 50 pips or 0.38% against the Japanese Yen on Wednesday. The currency pair breached the 50– and 200– hour SMAs during yesterday's trading session.

By and large, the exchange rate is likely to continue to edge higher during the following trading session. The potential target for the EUR/JPY pair will be near the 130.80 level.

However, a resistance line at 130.66 could still provide resistance for the currency exchange rate within this session.

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Dukascopy Bank Team

Dukascopy Bank SA

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