EUR/JPY Buying Signals

The common European currency traded sideways against the Japanese Yen on Tuesday. The 50– hour simple moving average provided support for the currency pair during yesterday’s trading session.

Most likely, the EUR/JPY exchange rate could edge higher within the following trading session. A breakout through the upper boundary of an ascending channel pattern might occur.

However, a resistance cluster near the 125.00 level could provide a barrier for bullish traders during the following trading hours.

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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