The Japanese Yen has been showing interesting price action against the US Dollar (USD/JPY) and Euro (EUR/JPY) recently. Traders are keeping a close eye on these currency pairs for potential trading opportunities.
The USD/JPY pair has been trading within a range, with support around 109.50 and resistance near 111.00. Traders are watching for a breakout above or below this range to determine the next direction for the pair. A break above 111.00 could signal a bullish trend, while a break below 109.50 could indicate a bearish trend.
On the other hand, the EUR/JPY pair has been trending higher, with support around 129.00 and resistance near 132.00. Traders are looking for a potential breakout above 132.00 to confirm a bullish trend continuation. However, a break below 129.00 could suggest a reversal in the trend.
Overall, traders are closely monitoring the price action of the Japanese Yen against the US Dollar and Euro for potential trading opportunities. Keeping an eye on key support and resistance levels can help traders make informed decisions when trading these currency pairs.