Dukascopy Bank Team
Dukascopy Bank SA
EURJPY
The price movement of the common European currency against the Japanese Yen has been guided by a junior ascending channel pattern. The currency pair tested the upper boundary of the channel at 129.25 during yesterday's session.
The EUR/JPY currency pair breached the lower boundary of the channel pattern at 128.36 during the middle of Thursday's trading session.
Given that a breakout had occurred, the currency exchange rate is likely to continue its decline towards the monthly support level at 127.71 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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