Dukascopy Bank Team
Dukascopy Bank SA
The Euro has booked a new high level against the Japanese Yen. This event was expected.
However, Dukascopy Analysts initially expected the rate to reach for the 133.17 mark before retreating. Instead the pair has revealed a resistance line, which can be seen by connecting the recent high levels.
Meanwhile, the pair is still expected to reach the weekly R1 at the 133.17 level. The reason for that is that the pair will still be pushed higher by the 55 and 100-hour simple moving averages.
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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