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EUR/JPY extends rally to 147.30

FXStreet (San Francisco) - The Euro is extending its gains versus the Japanese yen and after a walk of 125 pips from 146.00, EUR/JPY is testing intraday highs at 147.30.

The Euro is being fueled by the good German IFO index, which rose to 104.7 in November from 103.2 in October, marking the first increase in seven months.

Currently, EUR/JPY is trading at 147.17, up 0.89% on the day, having posted a daily high at 147.36 and low at 145.59. The FXStreet OB/OS Index is reflecting overbought hourly conditions, while the FXStreet Trend Index is slightly bullish.

EUR/JPY levels

With a successful extension above 147.30, the EUR/JPY will find next resistances at 147.50 and 148.00. To the downside, supports are at 146.65, 146.00 and 145.60.

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