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EUR/JPY clinches highs near 133.40

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 15, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Edinburgh) - The single currency is now picking up further pace and lifting EUR/JPY to test fresh daily highs around 133.40.

    EUR/JPY looks to EMU releases

    Absent significant drivers for the Japanese currency, the cross will pay attention instead to the releases in the euro area, where the German/EMU ZEW Survey are poised to dictate the sentiment around EUR in the very near term.

    In the meantime, the cross seems to have found decent support in the mid-132.00s for the time being, advancing for the second session in a row after the leg lower from post-ECB highs.

    EUR/JPY significant levels

    The cross is up 0.30% at 133.34 facing the next hurdle at 134.07 (downtrend from 139.09) ahead of 134.45 (100-day sma) and then 135.47 (61.8% Fibo of 139.09-129.61). On the other hand, a break below 132.56 (low Dec.11) would aim for 131.84 (23.6% Fibo of 139.09-129.61) and finally 129.72 (low Nov.25).
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