EUR/JPY trades sideways

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


The EUR/JPY currency exchange rate remains below the 132.00 mark. On Tuesday morning, the pair made an attempt to pass the round exchange rate level, before retracing back down. Meanwhile, it was spotted that the 50-hour simple moving average is not capable of changing the rate's direction. In addition, note that the 131.25 level acted as support on Monday.

In the case that the pair's decline reaches below the 131.25 level, the EUR/JPY might look for support in the weekly simple pivot point at 130.82, before aiming at the 130.50 mark. However, take into account that the 131.00 level could act as support.

On the other hand, a surge of the Euro against the Japanese Yen might once again test the 132.00 mark and the zone above it. Above the resistance zone, the 132.50 and 133.00 levels might stop a surge.
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