8 Dec 2014
EUR/JPY moves up towards recent highs
FXStreet (Guatemala) - EUR/JPY is trading at 149.46, up 0.15% on the day, having posted a daily high at 149.81 and low at 149.34.
EUR/JPY has managed a score just shy of the recent high on the back of the latest final GDP from Japan that printed worse than the preliminary data but puts the pair into a confirmed bullish outlook both fundamentally and technically. It is backed by both a less dovish ECB and negative fundamentals out of the Japanese economy.
Thus we are in a strongly bullish trend albeit in nervous territory being within a year end cycle and approaching thinner markets that are already overbought where volatility could play out amongst very key market developments with Japans elections approaching and the final FOMC of the year where the greenback will take the spot light and drive further action. Beyond here, to the upside, 149.79 comes as (Daily Classic R1), and 150.33 (Daily Classic R2).
EUR/JPY has managed a score just shy of the recent high on the back of the latest final GDP from Japan that printed worse than the preliminary data but puts the pair into a confirmed bullish outlook both fundamentally and technically. It is backed by both a less dovish ECB and negative fundamentals out of the Japanese economy.
Thus we are in a strongly bullish trend albeit in nervous territory being within a year end cycle and approaching thinner markets that are already overbought where volatility could play out amongst very key market developments with Japans elections approaching and the final FOMC of the year where the greenback will take the spot light and drive further action. Beyond here, to the upside, 149.79 comes as (Daily Classic R1), and 150.33 (Daily Classic R2).