20 Aug 2015
EUR/JPJ keep recovering below key 138.80 key resistance
FXStreet (Guatemala) - EUR/JPY is currently trading at 138.00 with a high of 138.11 and a low of 137.60.
EUR/JPY has risen on the back of broad dollar weakness as the FOMC minutes are propelling the euro higher. The mood is pro-euro at the moment, with good news in Germany approving the terms of the bailout for Greece overnight and general trend momentum in the recovery this month while the euro is supported on the 1.1000 handle on the downside having climbed from the lows of the mid point of the 1.08 handle.
EUR/JPY levels near and wide
The cross has strong support at 137.10 and is en -route for 138.40 ahead of 138.80 August highs with a strong support line from 126.20 targeting 141.00 and June highs longer-term. However, the bear trend remains in place below 138.80's downtrend and failures there leave the 200 day moving average at 136.91 exposed below 137.10 support. A break of 135.00 level would open up the possibility of a slide to key support at 133.30/10, the lows seen since May.
EUR/JPY has risen on the back of broad dollar weakness as the FOMC minutes are propelling the euro higher. The mood is pro-euro at the moment, with good news in Germany approving the terms of the bailout for Greece overnight and general trend momentum in the recovery this month while the euro is supported on the 1.1000 handle on the downside having climbed from the lows of the mid point of the 1.08 handle.
EUR/JPY levels near and wide
The cross has strong support at 137.10 and is en -route for 138.40 ahead of 138.80 August highs with a strong support line from 126.20 targeting 141.00 and June highs longer-term. However, the bear trend remains in place below 138.80's downtrend and failures there leave the 200 day moving average at 136.91 exposed below 137.10 support. A break of 135.00 level would open up the possibility of a slide to key support at 133.30/10, the lows seen since May.