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The surge of the Euro against the Japanese Yen has reached a new high level, as the 131.00 mark has been passed and the 131.50 level was reached. On Thursday morning, it was spotted that the rate was finding support in the 131.00 level and the 131.50 still acted as resistance.
If the pair reaches above the 131.50 mark, the rate might encounter resistance at the weekly R2 simple moving average at 131.82. Higher above, the 132.00 and 132.50 levels could act as resistance.
On the other hand, a decline of the currency exchange rate would have to pass the support of the 131.00 mark, before looking for support in the 130.50 mark and the 50-hour simple moving average near 130.20.
Thu, 17 Mar 2022 08:59:57 GMT
Source: Dukascopy Bank SA
The surge of the Euro against the Japanese Yen has reached a new high level, as the 131.00 mark has been passed and the 131.50 level was reached. On Thursday morning, it was spotted that the rate was finding support in the 131.00 level and the 131.50 still acted as resistance.
If the pair reaches above the 131.50 mark, the rate might encounter resistance at the weekly R2 simple moving average at 131.82. Higher above, the 132.00 and 132.50 levels could act as resistance.
On the other hand, a decline of the currency exchange rate would have to pass the support of the 131.00 mark, before looking for support in the 130.50 mark and the 50-hour simple moving average near 130.20.