The 50-hour simple moving average pulled down the Eurozone single currency against the Japanese Yen on Friday. The pair depreciated about 0.42% during Friday’s trading session.
The currency pair started Monday’s trading session with an upside movement. By the middle of the day, the EUR/JPY pair has breached a resistance level at 124.94.
As for the near future, it is likely that bullish traders push the currency exchange rate towards a resistance cluster formed by the weekly PP and the 100-hour SMA at 124.80.
However, technical indicators suggest that the pair will continue its southern movement today.
The currency pair started Monday’s trading session with an upside movement. By the middle of the day, the EUR/JPY pair has breached a resistance level at 124.94.
As for the near future, it is likely that bullish traders push the currency exchange rate towards a resistance cluster formed by the weekly PP and the 100-hour SMA at 124.80.
However, technical indicators suggest that the pair will continue its southern movement today.
Comment:
The common European currency appreciated about 79 base points against the Japanese Yen on Tuesday. The currency pair has revealed a new junior ascending channel pattern.
After hitting the upper boundary of the junior ascending channel at 125.53, the exchange rate made a pullback down.
Most likely, the currency exchange rate will continue its decline towards a support level at 124.80 within this session.
If the support level holds, a potential bullish sentiment could be introduced during the following trading session.
After hitting the upper boundary of the junior ascending channel at 125.53, the exchange rate made a pullback down.
Most likely, the currency exchange rate will continue its decline towards a support level at 124.80 within this session.
If the support level holds, a potential bullish sentiment could be introduced during the following trading session.
Comment:
The single European currency has appreciated about 92 base points against the Japanese Yen since January 15. The currency pair breached both the 50-, 100– and 200-hour SMAs during Friday’s trading session.
The exchange rate is currently testing a support level formed by the 100-hour simple moving average at 124.94.
If this support level holds, bullish traders will try to target a swing high of 125.47 within this session.
On the other hand, if the currency exchange rate passes the 100-hour SMA, a decline towards the 124.40 mark could be expected.
The exchange rate is currently testing a support level formed by the 100-hour simple moving average at 124.94.
If this support level holds, bullish traders will try to target a swing high of 125.47 within this session.
On the other hand, if the currency exchange rate passes the 100-hour SMA, a decline towards the 124.40 mark could be expected.
Comment:
The common European currency has depreciated about 50 base points against the Japanese Yen since yesterday’s trading session. The currency pair tested the lower boundary of a junior ascending channel pattern during the Asian session on Tuesday.
After hitting the 200-hour simple moving average at 124.81, the EUR/JPY exchange rate began to gain strength.
As for the near future, it is likely that the currency exchange rate will aim at a swing high of 125.47.
However, a resistance level formed by the upper boundary of a dominant descending channel at 125.26 could hinder such movement today.
After hitting the 200-hour simple moving average at 124.81, the EUR/JPY exchange rate began to gain strength.
As for the near future, it is likely that the currency exchange rate will aim at a swing high of 125.47.
However, a resistance level formed by the upper boundary of a dominant descending channel at 125.26 could hinder such movement today.
Comment:
The Australian Dollar appreciated about 69 base points against the US Dollar on Tuesday. The surged was stopped by a traditional weekly resistance level at 0.7177 during yesterday’s session.
The exchange rate hovered below the traditional resistance level during the first half of Wednesday’s trading session.
By and large, it is likely that the currency exchange rate could decline towards the 50-hour simple moving average at 0.7141 within this session.
A potential upside movement could be introduced in the market during the following trading hours if the 50-hour SMA holds.
The exchange rate hovered below the traditional resistance level during the first half of Wednesday’s trading session.
By and large, it is likely that the currency exchange rate could decline towards the 50-hour simple moving average at 0.7141 within this session.
A potential upside movement could be introduced in the market during the following trading hours if the 50-hour SMA holds.
The currency pair is currently moving towards the lower boundary of an ascending trendline and could be set for a second breakout.
If the EUR/JPY currency exchange rate passes the support level formed by the lower boundary of the uptrend line at 124.40, the next level will be at a swing low of 124.18.
However, if the support level holds, the pair could aim for a test of the 200-hour SMA at 124.96 within this session.