23 Mar 2015
EUR/JPY rises above 130.00
FXStreet (Mumbai) - The shared currency continues to rise, taking the EUR/JPY higher above 130.00. The pair recovered from the low of 129.27 seen earlier today.
EUR/JPY: Draghi, Greece under focus
The EUR rose sharply against the USD as the markets continue to digest last week’s Fed’s downward revision of the interest rate forecasts. However, the Japanese Yen has been unable to strengthen significantly against the US dollar. Consequently, the EUR/JPY cross gained 0.29% to trade at 130.29 levels.
The markets remain focused on Drahi’s testimony before the European Parliament’s Economic and Monetary Affairs committee. The Merkel-Tsipras talks shall also be watched out by the markets.
EUR/JPY Technical Levels
The immediate resistance is seen at 130.68, above which gains could be extended to 131.66 levels. On the other hand, a break below 129.77 (5-DMA) could push the pair down to 128.90 (10-DMA) levels.
EUR/JPY: Draghi, Greece under focus
The EUR rose sharply against the USD as the markets continue to digest last week’s Fed’s downward revision of the interest rate forecasts. However, the Japanese Yen has been unable to strengthen significantly against the US dollar. Consequently, the EUR/JPY cross gained 0.29% to trade at 130.29 levels.
The markets remain focused on Drahi’s testimony before the European Parliament’s Economic and Monetary Affairs committee. The Merkel-Tsipras talks shall also be watched out by the markets.
EUR/JPY Technical Levels
The immediate resistance is seen at 130.68, above which gains could be extended to 131.66 levels. On the other hand, a break below 129.77 (5-DMA) could push the pair down to 128.90 (10-DMA) levels.