EUR/JPY Analysis: Decline likely to continue

Dukascopy Bank Team Dukascopy Bank SA

EUR/JPY

During Friday's trading session, the common European currency traded by 42 base points against the Japanese Yen.

Everything being equal, it is likely that the EUR/JPY currency pair will continue its downside movement. The potential target for bearish traders would be near a support cluster formed by the combination of the weekly and the monthly pivot points at 122.59.

Meanwhile, our technical indicators demonstrate that bears could continue their dominance in the market in the short-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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