EUR/JPY trades in 135.50/137.00 range

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


The EUR/JPY currency exchange rate has been observed to be highly volatile in the 135.50/137.00 range. Namely, the pair has been trading between these levels throughout this week. Meanwhile, the 50 and 200-hour simple moving averages have approached the pair from above. Both of the SMAs appear to be capable of impacting the pair in the short term.

On Thursday, August 25th, the pair appeared to have failed to pass the 137.00 level and a decline had started. By the middle of the day's European trading hours, the pair had found short term support in the 50-hour simple moving average near 136.33.

A continuation of the Euro decline against the Japanese Yen could look for support in the 136.00 level, before the weekly S1 simple pivot point at 135.67 and the 135.50/135.60 low level zone is reached. On the other hand, a potential recovery of the European currency might result in a test of the 200-hour simple moving average near 136.70, the weekly simple pivot point at 136.82 and the high level zone at 137.00/137.06.
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