26 Jan 2015
EUR/JPY in tops near 133.50
FXStreet (Edinburgh) - The buoyant tone around the euro continues to be the main driver in today’s bull run of EUR/JPY, now testing highs around 133.50.
EUR/JPY rebounds from 130.00
The cross has dipped to the vicinity of 130.00 the figure at the beginning of the Asian session today, hurt by the results from the parliamentary elections in Greece. However, EUR/JPY quickly reverted the initial drop and is now posting intraday peaks backed at the same time by the increasing offered tone in JPY.
“The market will find initial resistance at 134.80 (Fibo) and 137.20/139.12 ahead of the 55 day ma at 140.03”, argued Karen Jones, Head of FICC Technical Analysis at Commerzbank.
EUR/JPY levels to consider
The cross is now advancing 1.09% at 133.49 and a surpass of 134.00 (psychological level) would expose 134.52 (Tenkan Sen). On the other hand, the immediate support lies at 131.17 (hourly low Jan.26) followed by 130.16 (2015 low Jan.26) and finally the psychological level at 130.00.
EUR/JPY rebounds from 130.00
The cross has dipped to the vicinity of 130.00 the figure at the beginning of the Asian session today, hurt by the results from the parliamentary elections in Greece. However, EUR/JPY quickly reverted the initial drop and is now posting intraday peaks backed at the same time by the increasing offered tone in JPY.
“The market will find initial resistance at 134.80 (Fibo) and 137.20/139.12 ahead of the 55 day ma at 140.03”, argued Karen Jones, Head of FICC Technical Analysis at Commerzbank.
EUR/JPY levels to consider
The cross is now advancing 1.09% at 133.49 and a surpass of 134.00 (psychological level) would expose 134.52 (Tenkan Sen). On the other hand, the immediate support lies at 131.17 (hourly low Jan.26) followed by 130.16 (2015 low Jan.26) and finally the psychological level at 130.00.