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EUR/JPY regains 136.00

FXStreet (Córdoba) - Stronger-than-expected manufacturing and services PMIs from the Eurozone, helped EUR/JPY to reverse early losses. EUR/JPY rose sharply and regained the 136.00 level during the European session following solid PMIs from both Germany and the Eurozone as a whole.

EUR/JPY rallied more than 100 pips in a matter of minutes and recovered from a weekly low of 135.19 to a fresh daily high of 136.27 before finding resistance. The pair eased slightly and it is currently trading at the 136.15 zone, recording a 0.47% gain Thursday.

The shared currency has been under pressure this week amid talks the ECB could start to purchase corporate bonds and concerns about the results of Eurozone banks stress tests.

EUR/JPY technical levels

As for technical levels, EUR/JPY could find next resistances at 136.27 (intraday high), 136.87 (20-day SMA), 137.00 (Oct 20 high/psychological level) and 137.51 (50-day SMA). On the other hand, supports are seen at 135.19 (intraday low), 135.02/00 (Oct 14 low/psychological level) and 134.13 (2014 low Oct 16).

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