EUR/JPY: pops the 130 handle with the Dow at fresh record highs, euro also on a tear

Currently, EUR/JPY is trading at 130.20, up 0.12% on the day, having posted a daily high at 130.38 and low at 129.55.

EUR/JPY has skyrocketed along with the EUR/USD. The yen crosses are seeing off the yen overall. It is the last trading day of the month as European markets round up. The 130 handle has been breached on the move in the cross after a period of consolidation just above the halfway mark of the 129 handle. 

EUR/USD jumps to fresh multi-month highs, eyes 1.1800

A plus for the euro was the better EZ core inflation 1.3% vs 1.1 June while the end of month supply took the yen higher vs the greenback to 110.30 o/n. There are a number of second tier risks approaching for the cross this week although the nonfarm payrolls will be a key driver for the market. Stocks will continue to be a dominant factor as well, (for today, so far, the Dow is a bearish factor for the yen, having made a fresh record high at 21,913.80).

EUR/JPY levels

"EUR/JPY near term the market is consolidating, it is immediately bid above the 20-day ma at 129.57. The market spent last week consolidating below the 200-week ma at 130.65 but is holding extremely well at the 20-day ma currently at 129.57. Failure at last weeks low at 128.50 will alleviate immediate upside momentum and allow for some slippage to the uptrend at 128.01, below here lies the previous May high at 125.80 and offers additional support," explained analysts at Commerzbank.