25 Feb 2015
EUR/JPY climbs to highs around 135.20
FXStreet (Edinburgh) - The upbeat tone in the single currency is now pushing EUR/JPY to test intraday peaks in the 135.20 area.
EUR/JPY supported at 134.60
The cross managed to break above the overnight congestion pattern around 134.60 on Wednesday, backed by a solid performance of the common currency in the European morning so far. The unexpected dovish tone from Yellen on Tuesday’s testimony is giving oxygen to the risk-associated assets, while developments from Greece are now in the back burner.
Ahead in the session, investors will closely watch Draghi’s speech, while Foreign Bond Investment will be the next release of note in Japan.
EUR/JPY levels to consider
The cross is now up 0.25% at 135.20 with the next up barrier at 135.94 (high Feb.23) ahead of 136.22 (high Feb.17) and then 136.70 (high Feb.12). On the flip side, a breakdown of 134.67 (low Feb.24) would open the door to 134.45 (low Feb.23) and finally 133.90 (Kijun Sen).
EUR/JPY supported at 134.60
The cross managed to break above the overnight congestion pattern around 134.60 on Wednesday, backed by a solid performance of the common currency in the European morning so far. The unexpected dovish tone from Yellen on Tuesday’s testimony is giving oxygen to the risk-associated assets, while developments from Greece are now in the back burner.
Ahead in the session, investors will closely watch Draghi’s speech, while Foreign Bond Investment will be the next release of note in Japan.
EUR/JPY levels to consider
The cross is now up 0.25% at 135.20 with the next up barrier at 135.94 (high Feb.23) ahead of 136.22 (high Feb.17) and then 136.70 (high Feb.12). On the flip side, a breakdown of 134.67 (low Feb.24) would open the door to 134.45 (low Feb.23) and finally 133.90 (Kijun Sen).