EUR/JPY reaches above 131.00

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


On Tuesday, the EUR/JPY currency exchange rate reached above the resistance of the weekly simple pivot point and the 131.00 mark. However, the event did not result in a sharp surge, as the rate started to confirm the pivot point as support, before making a further move.

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. In addition, note the weekly R1 simple pivot point at 131.97 and the 132.00 level.

Meanwhile, a move below the weekly simple pivot point and the 131.00 mark, could look for support in the 50 and 200-hour simple moving averages near 130.85. Afterwards, the 130.60 level might provide support. he 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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