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EUR/JPY rises to challenge 132.00

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 1, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Córdoba) - EUR/JPY has climbed to fresh daily highs ahead of the American session as the euro picked up pace across the board.

    EUR/JPY started the week higher and continued to move up over the last hours to test the 132.00 area. EUR/JPY is aiming to revisit Friday's highs at the 132.30 zone, having hit a daily peak of 131.97 so far.

    The euro is rising for eighth straight day versus the yen, accelerating to a 1-month high on Friday after the Bank of Japan decided to cut interest rates and despite the ECB also signaled more easing in March.

    EUR/JPY technical levels

    In terms of technical levels, next resistances are seen at 132.28/35 (Jan 29 high/100-day SMA), 132.78 (Dec 22 high) and 133.77 (Dec 16 high). On the flip side, supports could be found at 131.22 (Feb 1 low), 130.55 (50-day SMA), 129.57 (Jan 29 low) and 129.12 (10-day SMA).
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