28 Apr 2015
EUR/JPY in neutral looking for catalyst for 130 handle
FXStreet (Guatemala) - EUR/JPY is currently trading at 129.58 with a high of 129.72 and a low of 129.47.
EUR/JPY has eyes for the 130 handle in the continuation of the bullish trend and a possible re-visit of the territory scored at the close of last week's business. There was some demand around for the euro overnight as bullish sentiment came in towards some form of progress in the Greek debt scenario.
Greek Prime Minister Alexis Tsipra expressed their desire to avoid bankruptcy while Deputy Foreign Minister Euclid Tsakalotos who is liked by officials representing creditors was appointed coordinator of the negotiations group for Greece and subsequently pushed Varoufakis to the sidelines.
Meanwhile, technically, EUR/JPY needs to get through a number of formidable key resistances that are the 131.30 and 131.52 and the March 18 high at 131.67 as well as the February low at 132.00. Until then, the cross is liable to a slide on event risk and a break of 126.75 would re-target the 126.08 recent low and the 125.74 support line, as suggested by Karen jones, chief analyst at Commerzbank.
EUR/JPY has eyes for the 130 handle in the continuation of the bullish trend and a possible re-visit of the territory scored at the close of last week's business. There was some demand around for the euro overnight as bullish sentiment came in towards some form of progress in the Greek debt scenario.
Greek Prime Minister Alexis Tsipra expressed their desire to avoid bankruptcy while Deputy Foreign Minister Euclid Tsakalotos who is liked by officials representing creditors was appointed coordinator of the negotiations group for Greece and subsequently pushed Varoufakis to the sidelines.
Meanwhile, technically, EUR/JPY needs to get through a number of formidable key resistances that are the 131.30 and 131.52 and the March 18 high at 131.67 as well as the February low at 132.00. Until then, the cross is liable to a slide on event risk and a break of 126.75 would re-target the 126.08 recent low and the 125.74 support line, as suggested by Karen jones, chief analyst at Commerzbank.