EUR/JPY

The common European currency has depreciated about 1.11% in value against the Japanese Yen since September 20. A breakout occurred through the lower boundary of an ascending channel pattern at 118.50 during the morning hours of Monday's trading session.

Currently, the exchange rate is testing a support cluster formed by the combination of the weekly S1 and the monthly pivot point at 117.99.

If the support cluster holds, a brief retracement towards the 118.66 area might occur within this session.

However, if the EUR/JPY pair passes the support cluster, the currency exchange rate might fall by 140 pips before the end of today's trading session.

eurjpy

 

fxsoriginal

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.

Analysis feed

Latest Forex Analysis

Editors’ Picks

GBP/USD: Falling channel breakout on 15-min targets 1.3400

GBP/USD's 15-min chart is reporting a bearish channel breakout, with the bulls aiming to regain the 1.34 handle amid growing Brexit optimism. However, the breakout may be short-lived, as the daily chart is reporting oversold conditions. 

GBP/USD News

AUD/USD struggles to gather upside traction despite upbeat China data

AUD/USD is struggling to build bullish momentum despite the above-forecast China data. The bullish pressure remains weak, possibly due to the news that China is planning to lower its 2020 GDP target to 6% from the current year's 6.5%. 

AUD/USD News

USD/JPY bulls cling to trade deal hopes on 109 handle

USD/JPY has opened the week on the backfoot but has stablised above four-hour bullish moving averages, as well as the rising 21-DMA while risk appetite remains elevated. USD/JPY is currently trading at 109.35.

USD/JPY News

Gold: Flatlined after the biggest weekly gain since September

Gold is lacking a clear directional bias in Asia, having eked out its biggest weekly gain in nearly three months. The yellow metal is currently trading at $1,474 per Oz, representing little or no change on the day.

Gold News

Central Bank Meetings and Flash PMI Reports, but It's Over except for the Shouting

After last week's flurry of events, market activity is set to slow over the next three weeks.  But what a flurry of events it was.  A new NAFTA apparently has been agreed. This week's highlights include the flash PMIs and several central bank meetings.

Read more

Forex Majors

Cryptocurrencies

Signatures