11 Feb 2015
EUR/JPY jumps to 3-week highs
FXStreet (Mumbai) - EUR/JPY extended gains and climbed higher to fresh three week high during the European session mainly due to yen’s weakness in rather quiet currency markets.
Supported at 20-DMA
Currently, the EUR/JPY pair traded at 134.43 levels, up 0.17% on the day, retracing from fresh three week high clocked at 134.66 levels an hour ago. The strength seen in EUR/JPY cross is largely on the back of a weaker yen versus the greenback, as the USD bulls were bolstered by stellar US jobs data.
Additionally, the cross rallied after the crucial resistance of 135.20 levels was breached and stops were triggered above that level, pushing EUR/JPY another 50 pips higher. While, EUR/USD traded cautious above 1.1300 ahead of Euro group meeting later today.
At the moment, USD/JPY trades 0.21% higher at 119.67, while EUR/USD trade flat at 1.1314 levels.
EUR/JPY Levels to consider
To the upside, the next resistance is located at 136.30 and above which it could extend gains to at 137 levels. To the downside immediate support might be located at 135 levels below that at 134.19 levels.
Supported at 20-DMA
Currently, the EUR/JPY pair traded at 134.43 levels, up 0.17% on the day, retracing from fresh three week high clocked at 134.66 levels an hour ago. The strength seen in EUR/JPY cross is largely on the back of a weaker yen versus the greenback, as the USD bulls were bolstered by stellar US jobs data.
Additionally, the cross rallied after the crucial resistance of 135.20 levels was breached and stops were triggered above that level, pushing EUR/JPY another 50 pips higher. While, EUR/USD traded cautious above 1.1300 ahead of Euro group meeting later today.
At the moment, USD/JPY trades 0.21% higher at 119.67, while EUR/USD trade flat at 1.1314 levels.
EUR/JPY Levels to consider
To the upside, the next resistance is located at 136.30 and above which it could extend gains to at 137 levels. To the downside immediate support might be located at 135 levels below that at 134.19 levels.