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EUR/JPY leaves 143.00 pivot behind, 143.47 in focus

FXStreet (Moscow) - EUR/JPY  broke above 143.00 and touched the current high at 143.33, bullish momentum is strong as JPY is weakening across the board

EUR/JPY is the big winner of FX Universe. The cross broke above the pivotal level of 143.00 late in Tokyo and continued moving higher on the back of rumored demand in USD/JPY from Japanese names. Investors are waiting for ECB’s monetary policy decision that is likely to differ from BOJ’s aggressive approach. This rate differential story is pushing the cross higher. As long as the cross trades above 143.00, the upside potential is strong enough to get it towards April’14 high at 143.47/50, where the bullish momentum might stall.

What are today’s key EUR/JPY levels?

Today's central pivot point can be found at 142.32; initial support levels at 141.99, 141.37 and 141.04 with resistance above at 142.93, 143.26 and 143.88. Hourly Moving Averages are bullish, with the 200SMA bullish at 138.80 and the daily 20EMA bullish at 138.32. Hourly RSI is bullish at 78.

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