Dukascopy Bank Team
Dukascopy Bank SA
EURJPY
EUR/JPY has been diminishing its trading range for the last two consecutive trading session. This bearish momentum has left the currency pair losing around 380 base points or 2.95% of its value.
The common European currency breached the monthly pivot point at 126.83 and also tested a support cluster set by the combination of the weekly and the monthly PPs near the 125.25 mark.
Technical indicators flash bearish signals for the exchange rate today; This could suggest that a breakout through the lower boundary of a junior descending channel is likely to occur 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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