EUR/JPY surge reaches 130.00 mark

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


As forecast on Monday, the EUR/JPY reached the 130.00 mark on Tuesday. The 130.00 mark acted as resistance up to the middle of the day's European trading.

A bounce off from the 130.00 mark is still expected to look for support in the 129.00 mark and the high level zone below it, before approaching the 128.50 level and the 50-hour simple moving average near 128.20.

On the other hand, a surge of the Euro against the Japanese Yen above 130.00 would have no technical resistance as high as the 131.82 level, where the weekly R2 simple pivot point is located at. However, note that the 130.50 and 131.00 levels might slow down an upwards move.
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