EUR/JPY

The common European currency appreciated about 90 basis points against the Japanese Yen on Thursday. The currency pair tested the upper boundary of a descending channel pattern at 121.06 during yesterday's trading session.

The exchange rate is currently trading between the 50– and 100– hours SMAs near the 120.80/120.68 area.

By and large, the currency exchange rate will likely continue to gain strength with this session. The potential target will be at the 121.39 region.

However, the EUR/JPY pair will have to surpass the descending channel pattern before reaching the prediction.

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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