EUR/JPY respects round levels

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


Since the start of Wednesday's trading, the EUR/JPY currency exchange rate has been observed to respect the support and resistance of round exchange rate levels. Namely, the 138.00, 138.50, 139.00 and 139.50 levels were acting as either support or resistance. On Thursday morning, the pair was fluctuating between the 138.00 and 138.50 levels.

A surge of the Euro against the Japanese Yen might encounter some resistance in the 50-hour simple moving average near 138.80, prior to testing the resistance of the 139.00 and 139.50 levels. Higher above, take into account the 140.00 mark, which is strengthened by the 200-hour simple moving average and the weekly simple pivot point.

However, a decline of the rate below 138.00 could look for support in the weekly S1 simple pivot point at 137.80. Further below, note the 137.50 and 137.00 levels that might act as support.
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