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EUR/JPY hits fresh daily highs after IFO data

FXStreet (Córdoba) - EUR/JPY inched higher and printed fresh daily highs as the euro strengthened across the board following the release of better-than-expected German IFO data.

The German IFO index rose to 104.7 in November from 103.2 in October, posting the first increase in seven months. The upbeat reading gave the euro a lift and sent EUR/JPY to a high of 146.78. At time of writing, the pair is trading at 146.58, recording a 0.50% gain on the day.

EUR/JPY technical levels

On the upside, immediate resistances are seen at 146.78 (daily high), 147.09 (100-hour SMA) and 148.42 (Nov 21 high). On the downside, supports could be found at 145.57 (daily low), 145.13 (Nov 18 low) and 145.00 (psychological level).

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