EUR/JPY hovering below 142.00

FXStreet (Córdoba) - The EUR/JPY rose after Wall Street opening to 142.14 hitting the highest price in three weeks but it failed to hold above 142.00 and pulled back to 141.68. Currently trades at 141.91, up 0.40% from today’s opening price.

Despite moving away from the highs the Euro is on its way to the highest daily close since April 3.

EUR/JPY technical outlook

The pair continues to move with a slightly bullish bias and currently is attempting to break a trading range. A consolidation above 142.00 could bring the EUR/JPY closer to April highs that lie above 143.50.

To the downside, below 141.00, bearish pressure could increase. Below here the key support area lies around 140.00.