HomeContributorsTechnical AnalysisEUR/JPY Buy Signals Today

EUR/JPY Buy Signals Today

On Friday, the European single currency surged by about 118 basis points against the Japanese Yen. However, after hitting the monthly R1 at 119.90, the currency pair made a U-turn south.

Currently, the exchange rate is near a support level formed by the 50– hour simple moving average at 119.14.

If the support level holds, the EUR/JPY pair will most likely continue its upside movement within this session.

On the other hand, if the currency exchange rate breaches 50– hour SMA, a decline towards the lower line of an ascending trendline could be expected today.

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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