17 Mar 2015
EUR/JPY firmer, eyes 129.00
FXStreet (Edinburgh) - EUR/JPY is now climbing to fresh weekly highs in the boundaries of 128.90 boosted by a better tone from the European currency.
EUR/JPY supported at 127.00
The accelerated offered tone around the euro in recent sessions sent the cross to the vicinity of the 127.00 handle last week, levels last traded in June 2013. However, the current soft sentiment towards the greenback is allowing the ongoing rebound in the riskier assets, propelling the cross back to the 129.00 region.
In the meantime, BOJ’s Kuroda argued that the domestic economy is recovering at a moderate pace although he admitted that consumer prices could turn negative due to the slump in crude oil prices. He also ruled out further easing for the time being.
EUR/JPY important levels
The cross is now advancing 0.41% at 128.75 and a surpass of 129.05 (high Mar.13) would expose 129.78 (23.6% of 136.70-127.64) and then 129.95 (high Mar.11). On the downside, the immediate support lines up at 127.20 (low Mar.16) followed by 126.92 (2015 low Mar.13) and finally 126.57 (low Jun.26 2013).
EUR/JPY supported at 127.00
The accelerated offered tone around the euro in recent sessions sent the cross to the vicinity of the 127.00 handle last week, levels last traded in June 2013. However, the current soft sentiment towards the greenback is allowing the ongoing rebound in the riskier assets, propelling the cross back to the 129.00 region.
In the meantime, BOJ’s Kuroda argued that the domestic economy is recovering at a moderate pace although he admitted that consumer prices could turn negative due to the slump in crude oil prices. He also ruled out further easing for the time being.
EUR/JPY important levels
The cross is now advancing 0.41% at 128.75 and a surpass of 129.05 (high Mar.13) would expose 129.78 (23.6% of 136.70-127.64) and then 129.95 (high Mar.11). On the downside, the immediate support lines up at 127.20 (low Mar.16) followed by 126.92 (2015 low Mar.13) and finally 126.57 (low Jun.26 2013).