EUR/JPY reaches below 134.50

Source: Dukascopy Bank SA


On Thursday morning, the EUR/JPY currency exchange rate plummeted. The pair passed the support of the weekly S1 and S2 levels at 135.80 and 135.00 and the support zone at 134.80/135.00. Afterwards, the rate found support in the April low level zone at 134.28/134.43.

If the rate reaches below the April low level zone, the rate is expected to look for support in the 134.00, 133.50 and 133.00 round exchange rate levels. These levels acted as support and resistance in March.

Meanwhile, a potential surge could encounter resistance in previous support levels at 134.28/134.43 and 134.80/135.00.
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