EUR/JPY finds support near 142.50

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Source: Dukascopy Bank SA


The EUR/JPY currency pair recently found support in the 142.30/142.65 zone. By the middle of Monday's trading hours, the pair had recovered and faced resistance in the combination of the weekly simple pivot point at 143.68 and the 200-hour simple moving average near 143.65.

In the case of a surge above 143.70, the pair might encounter resistance in the 144.00 and 144.50 levels, before it reaches the weekly R1 simple pivot point at 145.06 and the 145.00 mark.

On the other hand, a decline of the currency pair is set to look for support in the 142.30/142.65 zone. Meanwhile, note that the rate has been ignoring the 50-hour simple moving average. Further below, take into account the 142.00 level and the weekly S1 simple pivot point at 141.71.
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