29 Apr 2015
EUR/JPY hits 3-week highs above 131.20
FXStreet (Mumbai) - EUR/JPY extended gains beyond 131 handle in the European morning, largely on the back of yen weakness despite the strengthening US dollar across the board while markets completely ignored off mixed EZ business climate and consumer confidence surveys.
EUR/JPY surpasses 131 handle
Currently, the EUR/JPY cross traded higher by 0.51% at fresh 3-week highs of 131.28 levels, piercing thorugh the 131 handle. The cross in EUR/JPY kept highs after mixed Euro zone business and consumer surveys data which showed EZ business consumer survey dropped to 103.7 vs, 103.9 previous. While EZ consumer confidence figures at -5.0 met expectations however, fell further from the previous reading of -3.7.
The pair holds higher largely on a fresh selling seen in the yen versus the US dollar driving the EUR/JPY cross to fresh multi-week highs. Meanwhile, Fed Statement later will have major impact on the cross mainly driven by US dollar moves.
EUR/JPY Levels to consider
To the upside, the next resistance is located at 131.63 and above which it could extend gains to at 131.89 levels. To the downside immediate support might be located at 130.50 levels below that at 130 levels.
EUR/JPY surpasses 131 handle
Currently, the EUR/JPY cross traded higher by 0.51% at fresh 3-week highs of 131.28 levels, piercing thorugh the 131 handle. The cross in EUR/JPY kept highs after mixed Euro zone business and consumer surveys data which showed EZ business consumer survey dropped to 103.7 vs, 103.9 previous. While EZ consumer confidence figures at -5.0 met expectations however, fell further from the previous reading of -3.7.
The pair holds higher largely on a fresh selling seen in the yen versus the US dollar driving the EUR/JPY cross to fresh multi-week highs. Meanwhile, Fed Statement later will have major impact on the cross mainly driven by US dollar moves.
EUR/JPY Levels to consider
To the upside, the next resistance is located at 131.63 and above which it could extend gains to at 131.89 levels. To the downside immediate support might be located at 130.50 levels below that at 130 levels.