EUR/JPY having best day since July

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

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Córdoba) - EUR/JPY rose further during the US session and printed a fresh 3-week high at 136.89. The pair remains near 137.00, consolidating important weekly gains.

    The euro is among the top performers on Friday and against the yen is up by 1.15%, having the best day since mid-July. The Japanese currency is falling sharply across the board.

    EUR/JPY makes a decisive technical break

    The pair today broke above 135.50, an area that offered resistance during the previous four trading days and it worked a support in August and September. The euro rallied above and also climbed on top of the 55-MA (daily chart).

    The next area of relevant resistance might be seen at 137.30/50, September highs, followed by 139.00 (August 21, 24 high).
    For more information, read our latest forex news.

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