EUR/JPY
On Wednesday morning, the EUR/JPY currency exchange rate touched the support zone at 129.40/129.50. The rate found enough support to retrace back up to the resistance of the 50-hour simple moving average near the 130.00 mark.
In the case that the rate would be pushed down by the 50-hour simple moving average, it could once again test the support zone at 129.40/129.50. Below the zone, the closest support was the weekly S3 simple pivot point at 128.71.
On the other hand, a breaking of the resistance of the 50-hour simple moving average might result in the pair testing the previous support zone at 130.23/130.30. A move above this zone could reach the technical resistance levels near 130.65.
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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