EUR/JPY rises above 120.00 for the first since June 24

The relentless selling in the Japanese Yen has pushed EUR/JPY above 120.00 for the first time since June 24.

The cross had dropped from the high of 122.06 to 109.59 following the Brexit referendum on June 24. Since then, it traded sideways in the range of 118.00-112.00 before witnessing an upside break following Trump’s victory in the US Presidential Elections on November 9.

EUR/JPY Technical Levels

The cross was last seen trading around 120.16. A break above 120.83 (June 3 low) would open doors for 122.06 (Brexit day high). On the downside, failure to hold above 120.00 would shift risk in favor of a drop to 119.51 (session low).