EUR/JPY recovers to 131.00

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


The EUR/JPY currency exchange rate found support in the 130.20 mark, on Monday. By the middle of Tuesday's European trading hours, the pair had retraced to the 131.00 level and the weekly simple pivot point at 130.99.

In the near term future, the pair might pass the resistance of the 131.00 mark. A move higher, could find resistance in the 131.40 level, which acted as resistance last week and caused the most recent decline of the currency pair. Further above, the 131.60 level might act as resistance, as it did on January 5.

On the other hand, a decline from the 131.00 level could find support in the 130.60 level. The 130.60 level acted as minor support level during the early hours of Tuesday's trading. Below the 130.60 mark, the weekly S1 simple pivot point at 130.40 could stop a decline.
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