HomeContributorsTechnical AnalysisEUR/JPY Bullish Trend Continue

EUR/JPY Bullish Trend Continue

The single European currency versus the Japanese Yen rebounded from the monthly support level at 117.89 on Monday. As a result, the currency pair surged by 212 basis points or 1.78% in value during yesterday’s trading sessions.

As for the near future, the exchange rate will most likely continue to trade bullish. A breakout through the upper boundary of a dominate descending channel pattern could occur.

However, if the dominate descending channel pattern holds, the currency exchange rate could make a brief retracement towards the 119.00 area 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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