Dukascopy Bank Team
Dukascopy Bank SA
EURJPY
Upside risks prevailed in the market on Tuesday, thus sending the common European currency to surged about 86 base points against the Japanese Yen. The pair breached the 200-hour simple moving average at 130.13 during yesterday's session.
Wednesday's session begins with a bearish sentiment. And by the middle of the day, the exchange rate had declined by 60 pips. Presently, the price is located near the lower boundary of an ascending channel at 129.78.
If this bearish momentum continues today, it is likely that the EUR/JPY currency exchange rate will break the channel pattern within the coming hours.
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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