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EUR/JPY moving up with a bullish gap; sights for the 150 handle

FXStreet (Guatemala) - EUR/JPY is trading at 146.11, up 0.31% on the day, having posted a daily high at 146.56 and low at 145.80.

EUR/JPY ended last week on the front foot with EUR/USD taking off breaking significant levels in the cross with the145.68 2014 high broken making a foundation for the psychological 150.00 level. On the open of Asia this week, we have a bullish gap on the charts and this comes with a very poor print in Japans annualized GDP results. The GDP results were -0.4 vs -1.9% previous and 0.5 expected, which will impact the timings of Abe’s requirements in respect of the consumption tax rise.

EUR/JPY note worthy levels

Current price is 146.11, with resistance ahead at 146.31 (Weekly Classic R2), 148.37 (Weekly Classic R3). Next support to the downside can be found at 146.00, 146.80, 146.50, 145.26 (Daily Classic R2), 145.02 and 144.86 (Daily Classic R1).

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