EURJPY
The single European currency appreciated about 67 base points against the Japanese Yen on Monday. The surge was briefly stopped by the 50– and 100-hour SMAs at 129.80.
Today's session begins with a bullish momentum, as a result, the currency pair dashed through the SMAs as mentioned above. Currently, the rate is trading near a resistance level formed by the weekly PP at 130.07.
As for the near future, it is likely that the EUR/JPY currency exchange rate makes a temporary retracement south towards the 129.50 regions during the following 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.
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