HomeContributorsTechnical AnalysisEUR/JPY Target At 118.38

EUR/JPY Target At 118.38

The common European currency has continued to decline against the Japanese Yen. The currency pair lost about 70 basis points or 0.59% in value during Thursday’s trading session.

The exchange rate could continue to decline in the shorter term. The possible target for bearish traders would be near a support level formed by the weekly S3 at 118.38.

On the other hand, the currency exchange rate could reverse north from the monthly S1 at 119.00 within the following trading session.

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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