EUR/JPY reaches 139.50

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Source: Dukascopy Bank SA


The decline of the EUR/JPY reached the 139.50 mark on Monday. On Tuesday, the rate recovered until it encountered the resistance of the 50-hour simple moving average above 140.60.

If the 50-hour simple moving average holds and pushes the rate down, the 139.50 mark and the weekly S1 simple pivot point at 139.35 could act as support. Further below, note the 139.00 mark, a supporting trend line below 139.00 and a support zone at 138.00/138.30.

On the other hand, a recovery of the Euro against the Japanese Yen could encounter resistance above the 50-hour SMA in the 141.00 mark, the 200-hour simple moving average at 141.25 and the technical levels near 141.80.
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