EUR/JPY reaches 139.00

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


This week, the EUR/JPY currency pair managed to reach above the resistance zone at 138.00/138.35. On Wednesday, the rate found resistance in the 139.00 mark and confirmed the 138.00/138.35 range as support.

The Euro could surge against the Japanese Yen due to the approaching support of the 50-hour simple moving average. A potential surge would have to break the resistance of the 139.00 level, before reaching the weekly R3 simple pivot point at 139.39, the 139.50 level and the August high level at 140.00.

On the other hand, a decline of the rate is set to look for support in the 138.00/138.35 zone, prior to reaching the technical levels near 137.65 and 137.25. In addition, note that the 137.50 and 137.00 levels could act as support.
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