EUR/JPY surge pierces resistance line

Source: Dukascopy Bank SA


The EUR/JPY has been in a major scale channel up pattern since mid-2021. The rate has continued in the pattern higher, as since the last review it broke the resistance of the 158.00 and 160.00 levels. Most recently, the pair suddenly pierced the upper trend line of the pattern, before returning back below the trend line and resuming to respect its resistance.

In regards to the near term future, a potential surge is set to face the mentioned upper trend line of the channel pattern and the booked November high levels at 164.25/164.30. Higher above, the rate could be slowed down by other round levels, as it has been observed that they have major impact.

Meanwhile, a decline of the Euro against the Japanese Yen could find support in the 162.00 level and the support zone below it. If the rate passes below 162.00, note that the 160.00 mark is set to act as support.
Back to articles

Actual Topics

Fri, 24 Nov 2023 14:11:21 GMT

AUD/USD finds support near 0.6300

The Australian Dollar has continued to decline in a large scale channel down pattern against the US Dollar throughout 2023. However, in late November the pair started to find support in the 0.6275/0.6290 range. The range was strong enough to eventually cause a surge that broke the 50-day simple moving average and the 0.6450/0.6500 zone. Most recently, the rate's surge

Thu, 23 Nov 2023 16:18:10 GMT

Light crude reveals descending pattern

The price for United States light crude oil pierced the late 2022 high level and then failed to reach above the $95.00 mark per barrel. Afterwards, a sharp decline started that was only slowed down by a retracement, which was caused by the start of war in the Middle East. Although, the recovery was short lived, as the price

Subscribe to "Fundamental Analysis" feed

Subscribe
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.