EUR/JPY approaches 130.00 mark

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


At mid-day on Friday, the EUR/JPY currency exchange rate managed to pass the resistance of the 50-hour simple moving average near 129.30. The event was followed by a surge, which approached the 130.00 level.

A move above the 130.00 mark could find resistance in the trend line, which connects the February 10 and 23 high levels. A move above the trend line might stop at the 200-hour simple moving average near 130.30. Higher above, note the 130.50 mark and the weekly simple pivot point at 130.67.

On the other hand, a potential decline of the EUR/JPY currency pair might look for support in the 129.50 mark and the weekly S1 simple pivot point and the 50-hour simple moving average near 129.30/129.40. Further below, note the support of the weekly S2 simple pivot point at 128.73, which acted as support on Friday.
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