Dukascopy Bank Team
Dukascopy Bank SA
EUR/JPY
The single European currency declined by 70 basis points or 0.56% against the Japanese Yen during the first half of Thursday's trading session. The exchange rate rebounded at the end of the day.
Currently, the currency pair is testing a support level formed by the 100– hour simple moving average at 124.92.
If the support line holds, bullish traders could pressure the EUR/JPY pair higher within this session.
However, if the currency exchange rate breaks the 100– hour SMA, the next target for bears will be near the monthly PP at 124.29.
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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