EUR/JPY approaches 2013 highs on more time

FXstreet.com (Córdoba) - The EUR/JPY posted marginal gains on Monday and ended around 142.60 after being rejected from under 142.00. In the last hours the pair retain some upside momentum and recently climbed to 142.74, reaching the highest price in three days as the USD/JPY broke above 104.10.

EUR/JPY continues facing resistance around 143.00

The upside remains capped by the 142.90 resistance, where 2013 highs lie. Valeria Bednarik, Chief Analyst at FXstreet.com affirms that the dominant trend in the EUR/JPY remains bullish and a break above 142.90 is required “to trigger some stops and confirm a short term upward rally”.

Resistance levels above 143.00 according to Bednarik are located at 143.40 and 144.00 while support could come at 141.70, 141.40 and 141.00.