EUR/JPY 

On Tuesday, the common European currency declined by 69 pips or 0.53% against the Japanese Yen. The currency pair breached the 50– hour simple moving average during Tuesday's trading session.

The EUR/JPY exchange rate is currently trading near the lower line of a descending channel pattern and could be set for a breakout.

If the breakout occurs, a decline towards the 129.00 level could be expected within this session.

However, if the channel pattern holds, buyers are likely to target the resistance level at 129.69 today.

EURJPY

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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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