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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

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​​​EUR/JPY, USD/JPY come off recent highs​​​

​​​EUR/JPY, USD/JPY come off recent highs​ amid low volume festive season trading.​

USD/JPY Source: Adobe images
Forex Shares Japanese yen USD/JPY EUR/JPY United States dollar
Written by: Axel Rudolph | Market Analyst, London
Publication date:

​​​EUR/JPY drops further still

EUR/JPY trades back at its 55-day simple moving average (SMA) at ¥162.55, having tested and after three consecutive days been rejected by the 200-day SMA at ¥164.65.

​​The December uptrend line at ¥162.32 may offer support but if fallen through, the mid-October low at ¥164.65 may be revisited. Minor resistance sits at the 19 December high at ¥163.80 and more significant resistance at Monday’s ¥164.90 peak.

EUR/JPY chart Source: TradingView
EUR/JPY chart Source: TradingView

​USD/JPY keels over

USD/JPY is seen coming off last week’s ¥158.08 six-month high and slips towards the 20 November high at ¥155.88. Were this level not to act as support, the 7 November high at ¥154.71 may do so.

​Immediate resistance can be spotted at the ¥156.74 November peak and further resistance at last week’s ¥158.08 high.​​

USD/JPY chart Source: TradingView
USD/JPY chart Source: TradingView

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. Clients can lose more than they deposit. All trading involves risk.

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