ADS Securities: EURJPY Key support 119.55


The Japanese Yen, driven by positive data, outweighs the single currency. Thus, EURJPY Key support 119.55 is seen by ADS Securities team of analysts.

31 March, ADS Securities – Yesterday, the Euro declined for the fourth straight session against the Yen amidst a weaker than expected economic data in the Eurozone. The pair ended at 119.44, after falling as low as 119.06.

EURJPY Key support 119.55

As of now, the pair is trading with a downside trend, pressurized by an upbeat industrial production and positive inflation data from Japan. Key technical support is seen at the 119.55 level, followed by the 119.45 and 119.30 levels. A breach below the latter might trigger a further acceleration to the downside. However, the MACD is tranquil in the positive territory, suggesting that the downside might remain limited. Key resistance to be watched is located at the 119.75 level, followed by the 119.85 and psychological 120.00 levels. A move back above the latter might reverse the main trend to bullish.

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However, the MACD is tranquil in the positive territory, suggesting that the downside might remain limited. Key resistance to be watched is located at the 119.75 level, followed by the 119.85 and psychological 120.00 levels. A move back above the latter might reverse the main trend to bullish.

EURJPY Key support 119.55

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