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Forex: EUR/JPY finds resistance at 125.75

FXstreet.com (Córdoba) - The euro extended gains versus the yen during the European session and reached a 3-day high in recent dealings, underpinned by the positive market mood and after the eurozone CPI data came in as expected.

EUR/JPY climbed over 80 pips within the last hours, and hit a high of 125.73 before finding resistance and easing somewhat. At time of writing, EUR/JPY is trading around 125.60, 0.5% above its opening price.

If the EUR/JPY breaks above 125.75, next resistances could be found at 126.00 (psychological level) and 126.55 (Feb 13 high). On the other hand, supports are seen at 124.80 (intraday low), 124.00 and 123.80 (Mar 8 low).

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