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EUR/JPY: Further gains towards 140.00? - FXStreet

FXStreet (Bali) - EUR/JPY technical readings suggest a decent possibility of seeing further gains towards critical 140.00 in the short term, notes Valeria Bednarik, Chief Analyst at FXStreet.

Key Quotes

"The EUR/JPY extended its advance up to 139.63 post FOMC, with yields near 2.6% and stocks strongly up keeping yen under selling pressure across the board. The overall sentiment is that the Federal Reserve is not going to raise interest rates anytime soon, so the party goes on."

"Technically, the EUR/JPY hourly chart shows price steady above its 100 SMA and indicators maintaining the bullish tone well into positive territory, despite the small pullback underway. In the 4 hours chart technical readings present a strong upward momentum, with further gains pointing for a test of critical 140.00 figure in the short term."

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