EUR/JPY decline aims at 135.00

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


On August 24, the EUR/JPY currency pair reached the 135.50 mark, as it passed below the support of the weekly S1 simple pivot point at 135.67. The pair has been declining since bouncing off the 138.00 mark on August 22.

If the Euro continues to lose value against the Yen, the pair might look for support in the late August low level at 135.00. Below the low level, support might be found in the 134.50 and 134.00 levels, before the weekly S2 simple pivot point at 133.81 would be reached.

However, a potential recovery of the Euro could result in a surge to the 136.00 mark first. Higher above, the combination of the 136.50 and 50-hour simple moving average might slow down the rate, prior to it reaching the 200-hour SMA and the weekly simple pivot point near 136.80.
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