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EUR/JPY nearing 140.00 barrier

FXStreet (Moscow) - EUR/JPY has gained more than 60 pips so far; the cross started the Asian session at 139.33 and climbed towards current level of 139.93, more upside is in store

EUR/JPY is sky-rocketing

EUR is enjoying rally against JPY even if EUR/USD longer-term horizon is clouded. EUR/JPY jumped to new multi-moth high at 139.93 during Asian hours on Thursday as JPY is weakening across the board. While there are no interesting fundamental reports expected from Europe today, the single currency might be influenced by SNB’s monetary policy decision. If the Swiss central bank decide to flow the ECB’s lead, EUR may gain some ground. in this case EUR/JPY rally could get another boost. From the technical point of view, 140.00 is a serious barrier, where the downside correction is likely. The nearest support is seen at 139.63 (Wednesday’s high).

What are today’s key EUR/JPY levels?

Today's central pivot point can be found at 139.29, with support below at 138.91, 138.40 and 138.02, with resistance above at 139.80, 140.18, and 140.69. Hourly Moving Averages are bullish with the 200SMA bullish at 138.07 and the daily 20EMA bullish at 137.86. Hourly RSI is bullish at 78.

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