EUR/JPY trades above 129.00

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


At mid-day on Monday, the EUR/JPY currency exchange rate reached above the 129.00 mark, as the round price level failed to provide resistance.

In the near term future, the pair could stop at the 129.50 mark, the weekly R1 simple pivot point at 129.94 or the 130.00 mark. A bounce off from any of these levels is expected to look for support in the 129.00 mark and the high level zone below it, before approaching the 128.50 level and the 50-hour simple moving average near 128.20.

On the other hand, a surge of the Euro against the Japanese Yen would have no technical resistance as high as the 131.82 level, where the weekly R2 simple pivot point is located at.
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