Thu, Dec 09, 2021 @ 06:42 GMT
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EUR/JPY Two Scenarios Likely

Upside risks dominated the EUR/JPY currency pair on Monday. As a result, the common European currency edged higher by 136 pips or 1.05% against the Japanese yen during Monday’s trading session.

Currently, the exchange rate is trading near the upper boundary of an ascending channel pattern and could be set for a breakout.

If the breakout occurs, a surge towards the 132.00 level could be expected within this session.

However, if the channel pattern holds, sellers could target the 50- hour simple moving average at 130.21 today.

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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