EUR/JPY reaches above 130.00 level

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Source: Dukascopy Bank SA


The EUR/JPY passed above the 130.00 mark and the weekly R1 simple pivot point at 129.94. The clear move above the resistance occurred, as the 50-hour simple moving average approached the currency exchange rate.

A potential surge of the rate higher is expected to find some resistance at the round exchange rate levels at 130.50, 131.00 and 131.50, before approaching the weekly R2 simple pivot point at 131.82.

On the other hand, a decline of the rate would find support in the 130.00 mark, the weekly R1 simple pivot point at 129.94 and the 50-hour simple moving average near 129.60. Further below note the previous resistance and support zone at 128.73/129.05.
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