EUR/JPY decline reaches below 134.50

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


On Monday, the EUR/JPY currency pair passed below the support zone at 135.15/135.30. Afterwards, the rate found short term support in the 135.00 and 134.50 level. On Tuesday morning, the rate extended its decline by reaching below the 134.50 mark.

If the currency exchange rate continues to decline, support might be found in the combination of the 134.00 mark, before approaching the lower trend line of the one-week-old channel down pattern and the weekly S1 simple pivot point at 133.83.

On the other hand, a potential recovery of the Euro against the Japanese Yen would face resistance in the 50 and 200-hour simple moving averages and the previously passed zone at 135.15/135.30. A move above 135.30 is expected to encounter resistance in the weekly simple pivot point at 135.69 and the 135.75/135.90 zone.
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