EUR/JPY extends gains, climbs to weekly highs

FXstreet.com (Córdoba) - The EUR/JPY extended the recovery from 140.50 (January 13 low) and rose to 142.75, climbing above Tuesday's highs and reaching the price level it had when the US employment report was released last Friday. The Euro is moving with an upside bias while the Yen remains weak.

EUR/JPY next target: 143.00

After slumping on Monday to140.50 the EUR/JPY gained momentum and started to recover, accelerating the upside on Tuesday and also during the actual Asian session. At the beginning of the day the pair was trading at 142.20 after finding support in the previous hours around 141.85.

According to the FXMartket Alerts Team, a clear break above 142.63, “will see strong resistance zone at the 142.90/143.17 area coming into play.”