13 Jul 2015
Greek agreement news pushes EUR/JPY above 137.00
FXStreet (Mumbai) - The EUR/JPY pair rose to a session high of 137.59 after multiple news agencies reported Greek deal has been done at the EU summit.
EUR/JPY trades above 50-DMA
The pair currently trades above its 50-DMA located at 137.11. The demand for the common currency spiked after Belgian PM stated that an agreement has been reached at the EU summit. Similar comments were also made by other Eurozone big wigs. The latest news is that EU President Donal Tusk that just reconvened the EuroSummit with a “revised compromise proposal” on the table.
Consequently, the safe haven assets like the Japanese Yen are being sold, while the common currency is on the rise.
EUR/JPY Technical Levels
The spot currently trades at 137.50. The immediate resistance is located at 138.12 (June 29 high), above which the pair could target 139.00. On the flip side, a break below 137.11 (50-DMA) could push the spot back to 136.50.
EUR/JPY trades above 50-DMA
The pair currently trades above its 50-DMA located at 137.11. The demand for the common currency spiked after Belgian PM stated that an agreement has been reached at the EU summit. Similar comments were also made by other Eurozone big wigs. The latest news is that EU President Donal Tusk that just reconvened the EuroSummit with a “revised compromise proposal” on the table.
Consequently, the safe haven assets like the Japanese Yen are being sold, while the common currency is on the rise.
EUR/JPY Technical Levels
The spot currently trades at 137.50. The immediate resistance is located at 138.12 (June 29 high), above which the pair could target 139.00. On the flip side, a break below 137.11 (50-DMA) could push the spot back to 136.50.