EUR/JPY bounces off weekly S1

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"It is wrong to say the euro is very strong. Just before the financial crisis, we have to remember, the euro pointed towards $1.60.The market for euros is so large that one would have to waste considerable financial resources to have a very random result."
- ECB Governing Council member Luc Coene (based on Reuters)


Pair's Outlook
After yesterday's decline the pair received a bullish impetus from the weekly S1 at 138.16 today. The next target is a cluster of resistance levels (20-day SMA; weekly and monthly PP) at 138.65/84. Seemingly, it will not be easy for the pair to appreciate above the 139 mark; however, the bullish technical indicators could definitely help. We expect the Euro to challenge previously mentioned levels around the major level at 139 and ultimately to breach them.

Traders' Sentiment
At the moment of writing 59% of the SWFX market participants are expecting the single European currency to appreciate against the Japanese Yen.
© Dukascopy Bank SA

Actual Topics

Subscribe to "Fundamental Analysis" feed

Subscribe
Aby dowiedzieć się więcej o handlu Forex/CFD na platformie Dukascopy Banku, rynku SWFX oraz innych rzeczy związanych z handlem,
zadzwoń do nas lub poproś o oddzwonienie.
For further information regarding potential cooperation,
please call us or make callback request.
Aby dowiedzieć się więcej o Opcjach Binarnych w Banku Dukascopy / platformach handlowych Forex, SWFX, oraz innych,
zadzwoń do nas lub pozostaw prośbę o oddzwonienie.
Aby dowiedzieć się więcej o handlu Forex/CFD na platformie Dukascopy Banku, rynku SWFX oraz innych rzeczy związanych z handlem,
zadzwoń do nas lub poproś o oddzwonienie.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.