22 Dec 2014
EUR/JPY rallies, breaks above 147 handle
FXStreet (Mumbai) - The single climbed continued its upward momentum against the Japanese counterpart from the Asian session as the yen plunged against the greenback to reach new daily low levels, falling slightly short of 112 handle.
Currently, the EUR/JPY pair hit a new day’s high of 147.03 levels, up 0.64% on the day. The Euro is likely to stay elevated against the yen, as the Japanese currency extends its slide against the US dollar as risk on trading resumes with global equities rallying. The USD/JPY pair trades near fresh day’s high levels of 119.89 levels, up 0.32% on the day.
EUR/JPY Technical Levels
To the upside, the next resistance is located at 147.28 (Nov 27 High) and above which it could extend gains to 148 levels. To the downside, immediate support might be located at 146.22 (Dec 15 Low) and below that at 145.90 (Dec 19 Low) levels.
Currently, the EUR/JPY pair hit a new day’s high of 147.03 levels, up 0.64% on the day. The Euro is likely to stay elevated against the yen, as the Japanese currency extends its slide against the US dollar as risk on trading resumes with global equities rallying. The USD/JPY pair trades near fresh day’s high levels of 119.89 levels, up 0.32% on the day.
EUR/JPY Technical Levels
To the upside, the next resistance is located at 147.28 (Nov 27 High) and above which it could extend gains to 148 levels. To the downside, immediate support might be located at 146.22 (Dec 15 Low) and below that at 145.90 (Dec 19 Low) levels.