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EUR/JPY returns to 142.00

FXStreet (Edinburgh) - After dropping to session lows near 141.70, EUR/JPY has recovered ground as is now back around 142.00 the figure.

EUR/JPY back from the mid-142.00s

The cross is advancing for the fourth consecutive session so far, despite the ongoing correction lower from recent 7-month peaks in the area of 142.50. The increasing weakness surrounding the Japanese currency remains the main driver behind the needle-like upside, with the EUR remaining pretty much unchanged. Moving forwards to tomorrow’s docket, Kuroda’s speech will take centre stage in Japan while final services PMIs and Retail Sales in the euro bloc will grab all the attention in Euroland. “We will assume an upside bias while above 137.05, the low seen on the 30th October. Below here will neutralise the chart again”, observed Karen Jones, Head of FICC Technical Analysis at Commerzbank.

EUR/JPY relevant levels

The cross is now up 0.01% at 142.13 with the next hurdle at 142.35 (high Nov.4) ahead of 142.56 (high Nov.3) and then 142.61 (high Apr.4). On the flip side, a breach of 141.72 (low Nov.4) would aim for 141.21 (high Sep.19) and finally 140.42 (low Nov.3).

EUR/USD in ranges above 1.2500

The euro remained steady again the US dollar after the release of trade data from the US. EUR/USD continues to move in a range with support above 1.2500 and resistance below 1.2530.
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