Fri, Jan 22, 2021 @ 07:37 GMT
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EUR/JPY Analysis: Two Scenarios Likely

The common European currency declined by 35 basis points or 0.30% against the Japanese Yen on Friday. The decline was stopped by the 50– hour simple moving average during Friday’s trading session.

The currency pair is currently trading near the upper boundary of a descending channel pattern and could be set for a breakout.

If the breakout occurs, a surge towards the 123.80 level could be expected within this session.

However, if the channel pattern holds, bearish traders might target the 122.80 area today.

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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