EUR/JPY trades near 139.00

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Source: Dukascopy Bank SA


This week, the drop of the EUR/JPY eventually found support in the 137.50 level, before retracing to levels near 139.00. On Tuesday, the pair fluctuated in the 138.75/139.50 range.

A move above 139.50 might encounter resistance in the 140.00, 140.50 and 141.00 levels. In addition, the weekly simple pivot point at 140.58 could stop a potential surge of the Euro against the Japanese Yen.

However, a decline of the pair would have to pass below the 138.75 level, before reaching the Monday's low level at 137.50. Take into account that the rate could find support in the 138.00 and 138.50 levels.
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