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EUR/JPY clinches highs around 134.00

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

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Edinburgh) - The bid tone around the European currency is helping EUR/JPY to retake the key 134.00 barrier on Wednesday, printing daily peaks at the same time.

    EUR/JPY supported at 133.20

    The cross is advancing for the second session in a row today, propped up by a renewed sentiment around EUR and extending the brief knee-jerk to the 133.20 area (55-day sma) posted on Monday.

    In the data space, German trade surplus has widened to €20.8 billion during October, surpassing prior estimates at €20 billion. In Japan, October’s better-than-expected Machinery Orders have added to the auspicious GDP figures posted on Monday.

    EUR/JPY significant levels

    The cross is up 0.05% at 134.06 facing the next hurdle at 134.34 (downtrend from 139.09) ahead of 134.61 (100-day sma) and then 135.47 (61.8% Fibo of 139.09-129.61). On the other hand, a break below 133.23 (38.2% Fibo of 139.09-129.61) would aim for 131.84 (23.6% Fibo of 139.09-129.61) and finally 129.72 (low Nov.25).
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