EUR/JPY surge encounters resistance

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


The surge of the Euro against the Japanese Yen has encountered resistance in a zone just above the 144.00 mark. On Wednesday morning, the resistance was enough to cause a decline. By the middle of the day's trading, the pair appeared to be heading to the 143.00 level.

The rate's decline is expected to look for support in the 143.00 level and the 50-hour simple moving average. Further below, note the zone, which surrounds the 142.50 level.

A recovery of the EUR/JPY currency pair would have to pass the 144.00 mark, prior to approaching the 144.50 and 145.00 levels.
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Wed, 05 Oct 2022 11:04:04 GMT

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