HomeContributorsTechnical AnalysisEUR/JPY Tests 50– And 100-Hour SMAs

EUR/JPY Tests 50– And 100-Hour SMAs

As apparent on the 1(H) chart, the common European currency versus the Japanese Yen tried to surpass a resistance level at 126.69 during Wednesday’s trading session.

Given that the 50– and 100-hour simple moving averages are providing resistance for the exchange rate near the 126.53 area, it is expected that the pair decline within this session.

If the currency exchange rate passes the resistance cluster, t is likely some upside potential prevails in the market today.

Meanwhile, technical indicators flash bullish signals on both the 4(H) and daily time frames chart.

Dukascopy Swiss FX Group
Dukascopy Swiss FX Grouphttp://www.dukascopy.com/
This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.

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