Dukascopy Bank Team
Dukascopy Bank SA
EUR/JPY
The common European currency surged by 55 points or 0.44% against the Japanese Yen on Tuesday. The currency pair tested the 100– hour simple moving average at 126.00 during yesterday's trading session.
Currently, the exchange rate is testing a resistance level formed by the 100– hour SMA. If the resistance line holds, a breakout through the lower boundary of an ascending channel pattern could occur.
However, if the currency exchange rate passes the 100– hour SMA, bullish traders would dominate Wednesday's trading session.
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.
Latest Forex Analysis
Editors’ Picks
EUR/USD bounces to stabilize around 1.1750
Fears keep ruling the financial boards as rising COVID-19 cases lead to fresh lockdowns across the Union, Germany included. Dollar correcting extreme overbought conditions.
GBP/USD falls below 1.30 amid fears of a UK lockdown, Brexit impasse
GBP/USD has dropped below 1.30 as the British government mulls a new lockdown to curb the spread of coronavirus. The pound is also pressured by the Brexit impasse.
XAU/USD hits fresh monthly lows near $1,870 and remains vulnerable
Gold is falling sharply and is down almost two percent, even after trimming losses. XAU/USD tumbled to $1,868/oz reaching the lowest level since late-September.
Bank of Canada leaves policy rate unchanged at 0.25% as expected
In a widely expected decision, the Bank of Canada (BoC) announced on Wednesday that it left its key rate unchanged at 0.25% following its October policy meeting.
WTI bounces off lows near $37.00/bbl post-EIA
Prices of the WTI remain on the defensive albeit off lows. Demand concerns dragged prices to 3-week lows near $37.00. EIA reported an unexpected 4.3 mb build during last week.