Mon, Aug 02, 2021 @ 05:51 GMT
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EUR/JPY Pressure By 100-Hour SMA

The common European currency traded sideways movement against the Japanese Yen on Monday. The 100-hour simple moving average provided resistance at 121.08 during yesterday’s trading session.

Most likely, the EUR/JPY exchange rate might continue its downward swing within this session. Bearish traders are likely to aim at the lower boundary of a descending channel pattern at 120.52.

Furthermore, technical indicators suggest that the currency exchange rate could edge lower during the following trading session.

Dukascopy Swiss FX Group
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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