10 Aug 2015
EUR/JPY hits 4-week highs; more upside ahead?
FXStreet (Córdoba) - A stronger euro pushed EUR/JPY back above 137.00. The pair recently reached 137.42, hitting the highest level since July 13.
EUR/JPY above key level
Price is holding above the 137.00 handle, for the first time in more than a month. During July it traded above but it always failed to hold. A consolidation on top could open the doors for further gains. The next resistance level to consider lies at 137.80 (July 13 high) and 138.20 (June 23 low).
On the opposite direction, if EUR/JPY is unable to hold above 137.00 it could lose momentum. But while above 135.70 it would stand above a short-term uptrend line.
Support levels could be located at 137.10 (July 27 low), 136.40/50 (July 23 high) and 135.80.
EUR/JPY above key level
Price is holding above the 137.00 handle, for the first time in more than a month. During July it traded above but it always failed to hold. A consolidation on top could open the doors for further gains. The next resistance level to consider lies at 137.80 (July 13 high) and 138.20 (June 23 low).
On the opposite direction, if EUR/JPY is unable to hold above 137.00 it could lose momentum. But while above 135.70 it would stand above a short-term uptrend line.
Support levels could be located at 137.10 (July 27 low), 136.40/50 (July 23 high) and 135.80.