EUR/JPY remains below 132.00

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Source: Dukascopy Bank SA


The EUR/JPY currency exchange rate made at least three attempts at passing the resistance of the 132.00 mark and the zone above it. By the start of Wednesday's European trading hours, the currency exchange rate was still located below the 132.00 level. Meanwhile, the rate had shown that January high levels could provide short term support.

In the case that the pair finally passes the resistance of the 132.00/132.25 zone, the EUR/JPY could find resistance in the 132.50 and 133.00 levels, before reaching the weekly R1 simple pivot point at 133.19.

However, a potential decline of the rate would most likely look for support in the January 5 and 4 high levels at 131.60 and 131.47. Further below, note the support of the February low level at 131.25.
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