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EUR/JPY retreats from highs, back to 135.00

FXStreet (Edinburgh) - After climbing to daily tops near 135.20, EUR/JPY has now surrendered some gains and is testing the vicinity of 135.00 the figure.

EUR/JPY stronger following EUR

Today’s prevailing bid tone around the single currency has been supporting the daily upside in the cross, amidst an absence of significant releases in Euroland.

However, the upcoming speech by ECB’s Mario Draghi will put EUR’s performance to the test later in the European evening, where the Eurogroup and EcoFin meetings are also meant to kick in.

On the Japanese side, the BoJ monetary policy meeting is due early in the Asian trading hours tomorrow, although expectations of any modification in the central bank’s monetary stance are close to zero.

EUR/JPY significant levels

The cross is no up 0.20% at 135.03 facing the next resistance at 135.20 (high Oct.6) ahead of 135.71 (high Oct.5) and finally 137.44 (September high Sep.17). On the other hand, a breakdown of 134.40 (low Oct.6) would expose 133.78 (low Oct.1) followed by 133.16 (low Sep.23).

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