EUR/JPY regains 121.00 and above

After a short-lived test of the 120.80 area, EUR/JPY has managed to regain steam and advance to the 121.60 area, although losing vigour afterwards.

EUR/JPY focus on EMU data

The cross is posting gains after four consecutive pullbacks, looking to consolidate the drop from recent highs in the 124.20 area while market participants continue to digest the miserable prints from Friday’s US Payrolls (38K).

There was nothing on the Japanese data front today, whereas German Factory Orders and EMU’s Sentix index are both due later in the European session.

EUR/JPY relevant levels

At the moment the cross is up 0.17% at 121.29 and a surpass of 122.80 (20-day sma) would expose 123.88 (55-day sma) and then 124.25 (high May 31). On the other hand, the immediate support aligns at 120.75 (2016 low Jun.3) ahead of 118.74 (2013 low Feb.25).