EUR/JPY reaches target at 127.50

Note: This section contains information in English only.
Source: Dukascopy Bank SA


As forecast, the EUR/JPY currency exchange rate reached the support of the 127.50 mark and the weekly S1 simple pivot point at 127.53. The 127.50 provided enough support for the pair to recover and break the channel down pattern. The recovery eventually ended at the weekly simple pivot point at 128.56, which caused a decline.

On Tuesday morning, the currency pair had declined below the 128.00 level. Meanwhile, it appeared that the 50-hour simple moving average had begun to serve as resistance.

In the case that the pair continues to decline, it could once again look for support in the 127.50 mark. If the 127.50 manages to provide support and cause another recovery, the EUR/JPY might first test the resistance of the 50-hour SMA, before aiming at the weekly simple pivot point at 128.56. Meanwhile, note that above the 128.56 level, the next resistance was the 200-hour SMA at 128.96.

On the other hand, a passing below the 127.50 mark might result in a further decline. A potential decline could find support in the 127.00 mark. Below the 127.00 level, the weekly S2 simple pivot point at 126.76 might act as support.
Back to articles

Actual Topics

Tue, 30 Nov 2021 07:44:38 GMT

AUD/USD passes support zone

As the AUD/USD currency pair continued to trade in the range between the support of 0.7110 mark and the 0.7148/0.7156 zone, it broke the channel down pattern's upper trend line. However, the event did not result in a surge, as the 0.7148/0.7156 zone provided enough resistance to the pair for a decline to start. By the start of Tuesday's European

Mon, 29 Nov 2021 15:06:11 GMT

Gold approaches support zone

This week, the price for gold started trading with a bounce off from the resistance of the 1,800.00 mark. By the middle of Monday's trading, the commodity was approaching the support zone of 1,778.60/1,782.70. Future forecasts were based upon whether or not the support zone holds, as it had did three times during the previous week. If the price recovers from

Subscribe to "Fundamental Analysis" feed

Souscrire
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.