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Last week, the EUR/JPY currency pair failed to pass the resistance of the 140.00 mark. Afterwards, a decline started, which by the middle of Monday's European trading hours had reached the 137.20 level.
In regards to the near term future, a potential decline of the pair would most likely look for support in the 136.90/137.10 zone and the weekly S1 simple pivot point at 136.79. Further below, note that round exchange rate levels might stop a decline, before the weekly S2 at 134.85 is reached.
On the other hand, a recovery of the Euro, compared to the Japanese Yen, might encounter resistance in the 200-hour simple moving average near 137.80 and the 138.00 mark. Higher above, note the 138.30/138.85 zone, which is strengthened by the weekly simple pivot point and the 50 and 100-hour simple moving averages.
Mon, 25 Apr 2022 09:27:37 GMT
Source: Dukascopy Bank SA
Last week, the EUR/JPY currency pair failed to pass the resistance of the 140.00 mark. Afterwards, a decline started, which by the middle of Monday's European trading hours had reached the 137.20 level.
In regards to the near term future, a potential decline of the pair would most likely look for support in the 136.90/137.10 zone and the weekly S1 simple pivot point at 136.79. Further below, note that round exchange rate levels might stop a decline, before the weekly S2 at 134.85 is reached.
On the other hand, a recovery of the Euro, compared to the Japanese Yen, might encounter resistance in the 200-hour simple moving average near 137.80 and the 138.00 mark. Higher above, note the 138.30/138.85 zone, which is strengthened by the weekly simple pivot point and the 50 and 100-hour simple moving averages.