18 Jul 2013
EUR/JPY hits 7-week high
FXstreet.com (Córdoba) - Propelled by positive risk sentiment, EUR/JPY broke 131.50 area and extended gains to fresh highs at the beginning of the New York session.
EUR/JPY rose to its highest level in 7 weeks as the yen weakened and stocks rallied to all-time highs in Wall Street amid risk appetite following better-than-expected US data. At time of writing, EUR/JPY is trading at the 131.60 area, where it records a 0.7% gain, having scored a peak of 131.65 in recent dealings.
EUR/JPY levels
In terms of technical levels, if EUR/JPY breaks above 131.65, next resistances could be found at 131.73 (76.4% of 133.82/124.94) and 132.00 (psychological level). On the other hand, supports are seen at 130.50 (daily low) and 130.00.
EUR/JPY rose to its highest level in 7 weeks as the yen weakened and stocks rallied to all-time highs in Wall Street amid risk appetite following better-than-expected US data. At time of writing, EUR/JPY is trading at the 131.60 area, where it records a 0.7% gain, having scored a peak of 131.65 in recent dealings.
EUR/JPY levels
In terms of technical levels, if EUR/JPY breaks above 131.65, next resistances could be found at 131.73 (76.4% of 133.82/124.94) and 132.00 (psychological level). On the other hand, supports are seen at 130.50 (daily low) and 130.00.