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Forex: EUR/JPY targeting 130.5 - 2ndSkiesForex

FXstreet.com (Barcelona) - EUR/JPY has kept printing higher highs this week and trades last at 129.51, off fresh 3-year highs at 129.61, mostly on the back of Yen weakness, being the weakest currency among all majors for last trading days. The cross is up +2.2% for the week so far, adding a +8.7% gain since BoJ Kuroda delivered past Thursday.

“This trend is quite strong as you will notice its ability to float above the 20ema on the 4hr chart so easily,” says 2ndSkiesForex founder Chris Capre, “all suggesting of heavy consistent buying,” he adds. “Be that as it may, we don't want to chase it, so look for pullbacks towards the key levels at 128.36 and 127.71 (former yearly highs) to get long,” the analyst suggest, expanding: “targeting 130.51, and 134.45 which are the June 05' lows and Jan 10' highs,” Chris concludes.

Immediate resistance to the upside for EUR/JPY shows at late Dec 2008 highs 129.71, followed by Jan 15 2010 lows at 130.25, and Sept 2009 lows at 130.99. To the downside, closest support lies at NY session highs 129.25, followed by London session highs at 128.86, and yesterday's Asian session highs at 128.43.

Forex: AUD/JPY shoots to fresh 57-month highs above 103.5

Yen has resumed weakening Monday across the board and against Aussie was not an exception, printing yet again fresh highs at 103.58, the highest since July 2008, pre-Lehman crisis levels. The cross is trading last at 103.56, a +2.25% higher for the week so far.
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