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EUR/JPY extends gains above 200-DMA

FXStreet (Mumbai) - The EUR/JPY pair rose above its 200-DMA earlier today and extended gains to near 134.43 levels after an upbeat Eurozone retail sales report hit the wires.

Trades at 10-day high

At 134.43, the pair is trading at a ten-day high. The bid tone on the EUR improved after the Eurozone retail sales in August stalled, beating the estimated drop of 0.1%. Furthermore, the previous month’s figure was revised higher to 3% from 2.7%.

Meanwhile, the safe haven Japanese Yen came under pressure on account of the rally in the Asian and European stocks. Ahead in the day, the sentiment on the Wall Street could influence the pair.

EUR/JPY Technical Levels

The immediate resistance is seen at 135.90 (50-DMA), above which the pair could rise to 136.36 (100-DMA). On the other side, support is seen at 135.39 (Sep 25 high) and 134.90 (200-DMA).

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