EUR/JPY: Bulls striving hard to take-out 113 handle

A better risk tone persisting in the markets, allows a recovery in the EUR/JPY back towards key resistance located at 113.25 region.

EUR/JPY attempts recovery towards 113 handle

The EUR/JPY pair trades +0.36% higher at 112.86, unable to break through 113 handle. The EUR/JPY cross remains strongly bid and reverses most of yesterday’s losses, mainly driven by a fresh bid-wave caught by the EUR/USD pair on the back of a broad based US dollar retreat.

While on the JPY-side of the equation, the cross also finds support from the minor-recovery posed by the USD/JPY pair, with the bulls now attempting gains above 102 handle as risk sentiment improves on higher Japanese stocks and oil prices.

Markets now keep a close eye on the upcoming EU economic summit ahead of the US datasets due later in the NA session.

EUR/JPY Levels to consider  

The pair has an immediate resistance at 113.25 (Jun 27 high) and from there to 114 (round number). On the flip side, support is seen at 112.26 (Daily pivot) below which it could extend losses to towards 111.27 (Daily S1).