30 Apr 2015
EUR/JPY: Headed for 200 DMA and Feb highs?
FXStreet (Guatemala) - EUR/JPY is currently trading at 134.06 with a high of 134.52 and a low of 131.30.
EUR/JPY is on the up along with all euro crosses as the EUR/USD takes on the 1.12 handle in a short squeeze and unwinding of positions in to the closing hours of April's business a long with optimism for a recovery in the economic and political woes across the Eurozone.
This has put EUR/JPY through the top of the cloud at 133.71 allowing for a potential leg up to the 136.70/137.40 February high and 200 day ma, as explained by Karen Jones, chief analyst at Commerzbank. To the downside and failures of a sustained break out would bring back the 129.20 mark and Karen Jones suggested that a slide back below here would be needed to retarget the 126.08 recent low and the 125.74 support line.
EUR/JPY is on the up along with all euro crosses as the EUR/USD takes on the 1.12 handle in a short squeeze and unwinding of positions in to the closing hours of April's business a long with optimism for a recovery in the economic and political woes across the Eurozone.
This has put EUR/JPY through the top of the cloud at 133.71 allowing for a potential leg up to the 136.70/137.40 February high and 200 day ma, as explained by Karen Jones, chief analyst at Commerzbank. To the downside and failures of a sustained break out would bring back the 129.20 mark and Karen Jones suggested that a slide back below here would be needed to retarget the 126.08 recent low and the 125.74 support line.