EUR/JPY trades around 140.00

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


On Friday, the EUR/JPY currency exchange rate bounced off the resistance of the 140.50/140.75 zone. On Monday morning, the pair found support in the last week's low level zone at 138.30/138.70.

A move below the support zone could almost immediately find additional support in the 200-hour simple moving average near 138.20. Further below, the 138.00 level might also slow down a decline. Afterwards, take into account the combination of the weekly S1 simple pivot point at 137.43 and the 137.50 level.

However, the support zone appeared to have held and a recovery was ongoing during the middle of Monday's European trading hours. The recovery was facing resistance in the form of the 50-hour simple moving average and the 139.50 level. Higher above, note the 140.00 mark, which might act as resistance, before the 140.50/140.70 zone is tested once again.
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