8 Aug 2013
EUR/JPY breaks through 129.00
FXstreet.com (Chicago) - EUR/JPY was propelled higher on BoJ decision above 129.00 zone.
The BoJ maintained its 0.1% interest rate implying the retention of its plan to increase its monetary base at annual pace of 60-70 trillion yen. The euro had been declining steadily throughout Thursday’s session as the yen strengthened across most majors.
Price action indicated the pair reversed from 128.40 zone to surpass 129.00 zone. Still maintaining 4-year highs, the pair traded at 129.09 with gains adding up to 0.49% for the day. On the downside, supports were set 127.77 (December 16th 2012 highs), 128.66 9August 5th lows) ahead of 128.42 (November 22nd 2009 highs) and resistances at 129.26 (February 2008 lows), 139.44 (July 5th lows) followed by 129.77 (September 2008 highs).
The BoJ maintained its 0.1% interest rate implying the retention of its plan to increase its monetary base at annual pace of 60-70 trillion yen. The euro had been declining steadily throughout Thursday’s session as the yen strengthened across most majors.
Price action indicated the pair reversed from 128.40 zone to surpass 129.00 zone. Still maintaining 4-year highs, the pair traded at 129.09 with gains adding up to 0.49% for the day. On the downside, supports were set 127.77 (December 16th 2012 highs), 128.66 9August 5th lows) ahead of 128.42 (November 22nd 2009 highs) and resistances at 129.26 (February 2008 lows), 139.44 (July 5th lows) followed by 129.77 (September 2008 highs).