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EUR/JPY climbs to highs near 135.60

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 9, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Edinburgh) - The Japanese yen is trading on a softer tone at the end of the Asian session on Friday, now lifting EUR/JPY to daily tops near 135.60.

    EUR/JPY stronger on JPY-selling

    The cross is extending its weekly upside today, trading just pips away from Monday’s tops at 135.71. In the meantime, the recent advance in the shared currency remains the almost exclusive catalyst in the cross, while the steady stance from the BoJ coupled with market expectations of further stimulus sooner or later keep weighing on JPY.

    Nothing worth mentioning data wise in Euroland or Japan, with the next risk event being the BoJ minutes to be published early on Tuesday.

    EUR/JPY significant levels

    The cross is now advancing 0.24% at 135.56 and a surpass of 135.90 (55-d sma) would aim for 135.99 (down trend from mid-Aug tops) and then 137.44 (monthly peaks Sep.17). On the other hand, the immediate support lines up at 134.44 (200d-sma) followed by 133.95 (up trend from early Sep.) and finally 133.08 (multi-month low Sep.4).
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