12 May 2015
EUR/JPY completes consolidation at 134.75 and attacks highs again
FXStreet (Tokyo) - After climbing around 150 pips from 133.75 in the Asian and European session, the EUR/JPY took a respite around 135.30 to consolidate levels from there to 134.75. So, the pair found new buying interest and now it's trading above 135.00, testing highs again.
Currently, EUR/JPY is trading at 135.08, up 0.89% on the day, having posted a daily high at 135.32 and low at 133.76. The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is slightly bullish.
EUR/JPY forecast
According to the FXStreet EUR/JPY Forecast Poll, "the ceiling changed, but not the bias, as the EUR/JPY is seen retracing its latest gains and return to the 130.00 region." However, Head of content and external communications at Admiral Markets Darren Sinden comments that the "Yen to weaken versus strong euro." 1-Week Target for Sinden is 136.78.
Euro to Yen levels
If the pair consolidates levels above 135.00, it will find resistances at 135.30, 135.70 and 136.00. To the downside, supports are at 134.75, 134.20 and 133.80.
Currently, EUR/JPY is trading at 135.08, up 0.89% on the day, having posted a daily high at 135.32 and low at 133.76. The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is slightly bullish.
EUR/JPY forecast
According to the FXStreet EUR/JPY Forecast Poll, "the ceiling changed, but not the bias, as the EUR/JPY is seen retracing its latest gains and return to the 130.00 region." However, Head of content and external communications at Admiral Markets Darren Sinden comments that the "Yen to weaken versus strong euro." 1-Week Target for Sinden is 136.78.
Euro to Yen levels
If the pair consolidates levels above 135.00, it will find resistances at 135.30, 135.70 and 136.00. To the downside, supports are at 134.75, 134.20 and 133.80.