EUR/JPY extends gains, eyes 114.00

EUR/JPY is having the best daily performance since the Brexit referendum. The pair is rising almost 300 pips but still remains below post-Brexit highs.

EUR/JPY keeps rising

The euro has been moving with a bullish bias versus the yen since the beginning of the day. EUR/JPY started trading slightly above 110.00 and recently printed a fresh daily high at 113.76, the strongest level in six days. Price remains near the highs consolidating gains.

The upside was supported by a weaker yen across the board, after elections in Japan and the expectation of more economic stimulus from PM Shinzo Abe.

EUR/JPY technical levels

Resistance levels might be located at 113.90 (July 4 low), 114.55/60 and 115.25 (20-day moving average). On the opposite direction, support could be seen at 112.90 (June 29 low), 112.35 (July 5 low) and 111.85 (July 8 high).