10 Jun 2013
EUR/JPY in highs around 131.00
FXstreet.com (Barcelona) - The cross is now hovering over 131.00 the figure, printing fresh daily highs bolstered by the better momentum in the shared currency and the weakness surrounding the yen.
In the view of Ilya Spiavak, Currency Strategist at DailyFX, “Prices are retesting trend line support-turned-resistance set from early April. With a break higher targeting the 61.8% Fibonacci retracement at 130.88. Near-term support is at 128.19. A reversal below that aims for 126.45”.
EUR/JPY is up 1.46% at 130.99. Next hurdle aligns at 131.40 (high Jun.4/5) followed by 132.08 (high May 31). On the downside, a violation of 129.17 (high Jun.7) would bring 128.70 (low Jun.10) and then 126.92 (cloud top).
In the view of Ilya Spiavak, Currency Strategist at DailyFX, “Prices are retesting trend line support-turned-resistance set from early April. With a break higher targeting the 61.8% Fibonacci retracement at 130.88. Near-term support is at 128.19. A reversal below that aims for 126.45”.
EUR/JPY is up 1.46% at 130.99. Next hurdle aligns at 131.40 (high Jun.4/5) followed by 132.08 (high May 31). On the downside, a violation of 129.17 (high Jun.7) would bring 128.70 (low Jun.10) and then 126.92 (cloud top).