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EUR/JPY reaches 1-week high

FXStreet (Córdoba) - EUR/JPY extended its recovery from 2014 lows and climbed to a 1-week high during the European session Friday, helped by an improvement in risk sentiment.

The rebound of European stocks and easing pressure on periphery bonds helped the shared currency and lifted EUR/JPY to a peak of 136.70. Having found resistance, the pair entered a phase of consolidation and it is currently trading at 136.50, recording a 0.26% gain on the day.

EUR/JPY levels to watch

In terms of technical levels, EUR/JPY could find immediate resistances at 136.70 (intraday high), 137.00/06 (psychological level/Oct 10 high) and 137.50 (20-day SMA). On the other hand, supports are seen at 135.74 (intraday level), 135.00 (psychological level) and 134.12 (2014 low Oct 16).

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