18 Jun 2015
EUR/JPY: Bulls lining up for June highs
FXStreet (Guatemala) - EUR/JPY is currently trading at 140.29 with a high of 140.48 and a low of 139.83.
EUR/JPY has recovered from the bearish gap formed at the close of last week and the open of this week's business. The bulls are testing the upside on the 140 handle now having scored the aforementioned highs, highs since 9th June at 140.50.
In Europe, we had plenty of chatter around Greece in preparation for tonights Eurogroup meeting. However, not much progress is expected form the meeting and we await the press conference of confirmation that no deal has been confirmed and there are still negotiations to take place. Meanwhile, Greek officials have said that they are open to making changes to the reforms so long as pensions are unaffected.
We have the BoJ tomorrow. This will draw the markets attention in respect of this press conference and the value of the Yen that may be a topic of discussion that could weigh on the cross given the recent remarks towards the weakness of the Japanese currency.
EUR/JPY technically bullish
Technically, we are en route to the 1.41 level. This would be very bullish and could instigate positioning higher for a continuation of the bull trend.
EUR/JPY has recovered from the bearish gap formed at the close of last week and the open of this week's business. The bulls are testing the upside on the 140 handle now having scored the aforementioned highs, highs since 9th June at 140.50.
In Europe, we had plenty of chatter around Greece in preparation for tonights Eurogroup meeting. However, not much progress is expected form the meeting and we await the press conference of confirmation that no deal has been confirmed and there are still negotiations to take place. Meanwhile, Greek officials have said that they are open to making changes to the reforms so long as pensions are unaffected.
We have the BoJ tomorrow. This will draw the markets attention in respect of this press conference and the value of the Yen that may be a topic of discussion that could weigh on the cross given the recent remarks towards the weakness of the Japanese currency.
EUR/JPY technically bullish
Technically, we are en route to the 1.41 level. This would be very bullish and could instigate positioning higher for a continuation of the bull trend.