19 Jul 2013
EUR/JPY sailing higher to fresh highs
FXstreet.com (New York) - The EUR/JPY technical cross sailed higher Friday morning during Asian trading, establishing fresh highs in recent moments.
EUR/JPY strategic bias
In these moments, the EUR/JPY has now stabilized in the area of 131.87, presently recording an advance of +0.13%. In terms of the technicals, the cross will look to target resistance at the 132.00 level (May 31 high), onto 132.11 (May 28 high), and 132.51 (May 24 high).
According to Valeria Bednarik, an analyst at FXstreet.com, “Yesterday the EUR/JPY reached the 131.87 level and held with the hourly chart showing indicators losing upward potential, still in positive territory, far from suggesting a reversal. In the 4 hours chart, technical indicators are heading north into positive territory, supporting further advances in the pair for this last day of the week.”
EUR/JPY strategic bias
In these moments, the EUR/JPY has now stabilized in the area of 131.87, presently recording an advance of +0.13%. In terms of the technicals, the cross will look to target resistance at the 132.00 level (May 31 high), onto 132.11 (May 28 high), and 132.51 (May 24 high).
According to Valeria Bednarik, an analyst at FXstreet.com, “Yesterday the EUR/JPY reached the 131.87 level and held with the hourly chart showing indicators losing upward potential, still in positive territory, far from suggesting a reversal. In the 4 hours chart, technical indicators are heading north into positive territory, supporting further advances in the pair for this last day of the week.”