EUR/JPY reveals support zone

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


On Thursday, the EUR/JPY currency exchange rate revealed a support zone at 130.40/130.45. On Friday morning, the pair bounced off the support zone and recovered to the 131.00 mark and the 50-hour simple moving average at that level.

If the Euro continues to surge against the Japanese Yen, the currency exchange rate might find resistance in the 200-hour simple moving average, the 131.50 mark and the weekly simple pivot point at 131.64. Higher above, note the 132.00 and 132.50 levels.

On the other hand, a decline of the pair would look for support in the 130.50 mark and the 130.40/130.45 zone, before aiming at the 130.05/130.12 zone where the February 14 low level is located together with the weekly S1 simple pivot point.
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