EUR/JPY reaches below support zone

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


The EUR/JPY currency exchange rate clearly passed below the support zone at 135.20/135.30 and the 134.75 level. Support was eventually found in the 134.50 mark. On Friday, the Euro recovered against the Japanese Yen, as the currency pair reached above 135.50 and resistance levels near 135.60.

If the currency pair continues to move higher, the pair could encounter resistance in the 136.00 level, before approaching the trend line, which connects the March 29 and 31 high levels.

Meanwhile, a decline of the Euro against the Yen would look for support in the weekly simple pivot point and the 50-hour simple moving average near 135.50. Further below, the 135.20/135.30 zone might once again act as support. In addition, note the 134.75 and 134.50 levels and the 200-hour simple moving average.
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