EUR/JPY remains near dominant channel

Dukascopy Bank Team Dukascopy Bank SA

Despite signals showing possible recovering during the previous trading session, the EUR/JPY pair failed to overcome the bearish pressure, and by the end of the European trading session, the currency pair lost 124 points.

Meanwhile, the exchange rate breached the monthly pivot point. This might suggest that bears dominance over the pair is likely to continue further.

Given that the pair has not yet able to breach the upper boundary of the channel down, it is likely that this session does not introduce significant changes to its positioning.

Interested in EUR/JPY technicals? Check out the key levels

1. R3 134.6
2. R2 134.14
3. R1 133.83
PP 133.36
1. S1 133.05
2. S2 132.59
3. S3 132.28

Author

Dukascopy Bank Team

Dukascopy Bank SA

Dukascopy Bank stands as an innovative Swiss online banking institution, with its headquarters situated in Geneva, Switzerland.

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