28 Jun 2013
EUR/JPY shoots above 129
FXstreet.com (Barcelona) - The EUR/JPY cross finally moved above the 128.50 short term resistance, and is now printing fresh weekly highs above the 129 handle, last at 129.25, on the back of combined Euro strength and Yen weakness.
Risk appetite rising
Risk sentiment has somehow come back to the Asia-Pacific with Nikkei above the 13500 points mark for first time in 2-weeks, up more than +2% in Tokyo today, while Gold is pulling back the key $1200 level after it broke below it in early trade printing fresh almost 3-year lows at $1800.
Key technical levels
Immediate resistance to the upside for EUR/JPY shows at recent session/weekly highs 129.38, followed by June 21 highs at 129.72, and June 20 highs at 129.92. To the downside, closest support lies at current levels as previous Monday weekly highs 129.20, followed by Tuesday's highs at 128.68, and Wednesday's highs at 128.46.
Risk appetite rising
Risk sentiment has somehow come back to the Asia-Pacific with Nikkei above the 13500 points mark for first time in 2-weeks, up more than +2% in Tokyo today, while Gold is pulling back the key $1200 level after it broke below it in early trade printing fresh almost 3-year lows at $1800.
Key technical levels
Immediate resistance to the upside for EUR/JPY shows at recent session/weekly highs 129.38, followed by June 21 highs at 129.72, and June 20 highs at 129.92. To the downside, closest support lies at current levels as previous Monday weekly highs 129.20, followed by Tuesday's highs at 128.68, and Wednesday's highs at 128.46.