22 Jan 2015
EUR/JPY flirting with 137.00
FXStreet (Edinburgh) - The now upbeat moment in the single currency is lifting EUR/JPY back to the 137.00 handle on Thursday.
EUR/JPY focus on ECB
The yen is now giving away yesterday’s gains in response of the steady stance from the BoJ in its monetary policy meeting, leaving rates unchanged. The cross is low looking to regain the 137.00 mark after briefly dipping to session lows around 136.60, ahead of the ECB gathering due in the European afternoon.
Karen Jones, Head of FICC Technical Analysis at Commerzbank, suggested “We view that the market has recently topped just ahead of 150.00, and short to medium term, the risk is now to the downside”.
EUR/JPY relevant levels
The cross is now up 0.19% at 136.79 and a break above 137.31 (high Jan.22) would target 137.64 (high Jan.20) en route to 137.79 (Tenkan Sen). On the downside, the immediate support aligns at 135.81 (low Jan.21) followed by 135.17 (low Jan.19) and then 134.70 (2015 low Jan.6).
EUR/JPY focus on ECB
The yen is now giving away yesterday’s gains in response of the steady stance from the BoJ in its monetary policy meeting, leaving rates unchanged. The cross is low looking to regain the 137.00 mark after briefly dipping to session lows around 136.60, ahead of the ECB gathering due in the European afternoon.
Karen Jones, Head of FICC Technical Analysis at Commerzbank, suggested “We view that the market has recently topped just ahead of 150.00, and short to medium term, the risk is now to the downside”.
EUR/JPY relevant levels
The cross is now up 0.19% at 136.79 and a break above 137.31 (high Jan.22) would target 137.64 (high Jan.20) en route to 137.79 (Tenkan Sen). On the downside, the immediate support aligns at 135.81 (low Jan.21) followed by 135.17 (low Jan.19) and then 134.70 (2015 low Jan.6).