EUR/JPY surge reaches a new high

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


The EUR/JPY passed the resistance of the 134.00 mark on Thursday. Eventually, the surge found resistance in the 134.75 mark, before a retracement down started. By the middle of the day's European trading hours, the currency exchange rate approached the support of the 50-hour simple moving average near 133.70.

If the pair passes below the 50-hour simple moving average, the pair might look for support in the 133.50 mark. Further below, the weekly R1 simple pivot point at 133.07 and the 133.00 level could provide support.

On the other hand, another resumption of the surge is set to encounter resistance in the 134.00 and 134.75 levels, prior to booking new high levels.
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