28 Jul 2015
EUR/JPY testing highs near 137
FXStreet (Mumbai) - The shared currency trades picked up pace versus its Japanese rival in the late Asian session, lifting EUR/JPY to fresh session highs near 137 levels, largely on yen weakness after the USD bulls regained lost ground and drove USD/JPY higher towards 124 handle.
EUR/JPY rises from 136.49
Currently, the EUR/JPY pair trades 0.19% higher at fresh session highs of 136.96, recovering from 136.49 lows. The cross is on its way to record fresh 2-week highs mainly driven by weakening yen versus the US dollar after markets sold-off the Japanese currency after it failed to breach the key 123 support.
While the European currency remains broadly flat amid lack of fresh fundamentals triggers heading in to the data-light European session. Markets now shift their attention towards US consumer confidence data due to be released in the New York session.
EUR/JPY Technical Levels
To the upside, the next resistance is located at 137.10 (July 27 High) levels and above which it could extend gains 137.24 (50-DMA) levels. To the downside immediate support might be located at 136.26 (5-DMA) below that at 135.71 (200-DMA) levels.
EUR/JPY rises from 136.49
Currently, the EUR/JPY pair trades 0.19% higher at fresh session highs of 136.96, recovering from 136.49 lows. The cross is on its way to record fresh 2-week highs mainly driven by weakening yen versus the US dollar after markets sold-off the Japanese currency after it failed to breach the key 123 support.
While the European currency remains broadly flat amid lack of fresh fundamentals triggers heading in to the data-light European session. Markets now shift their attention towards US consumer confidence data due to be released in the New York session.
EUR/JPY Technical Levels
To the upside, the next resistance is located at 137.10 (July 27 High) levels and above which it could extend gains 137.24 (50-DMA) levels. To the downside immediate support might be located at 136.26 (5-DMA) below that at 135.71 (200-DMA) levels.