EUR/JPY hits new high level

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


The decline of the Japanese Yen continues. On the EUR/JPY charts this has resulted in the pair approaching the 132.00 mark. However, it appears that the pair has encountered resistance, before reaching the round exchange rate level. Namely, there is a resistance zone at 131.84/131.92.

If the pair reaches above the 131.84/131.92 level, might encounter resistance in the 132.00 mark, before approaching the 132.50 and 133.00 levels. Note that the Yen has reached low levels not seen since 2016.

In the meantime, the pair is finding support in the 131.50 mark. A potential decline below this level might reach for the support of the 50-hour simple moving average near 131.10 and the 131.00 level.
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