24 Nov 2014
EUR/JPY hits fresh daily highs after IFO data
FXStreet (Córdoba) - EUR/JPY inched higher and printed fresh daily highs as the euro strengthened across the board following the release of better-than-expected German IFO data.
The German IFO index rose to 104.7 in November from 103.2 in October, posting the first increase in seven months. The upbeat reading gave the euro a lift and sent EUR/JPY to a high of 146.78. At time of writing, the pair is trading at 146.58, recording a 0.50% gain on the day.
EUR/JPY technical levels
On the upside, immediate resistances are seen at 146.78 (daily high), 147.09 (100-hour SMA) and 148.42 (Nov 21 high). On the downside, supports could be found at 145.57 (daily low), 145.13 (Nov 18 low) and 145.00 (psychological level).
The German IFO index rose to 104.7 in November from 103.2 in October, posting the first increase in seven months. The upbeat reading gave the euro a lift and sent EUR/JPY to a high of 146.78. At time of writing, the pair is trading at 146.58, recording a 0.50% gain on the day.
EUR/JPY technical levels
On the upside, immediate resistances are seen at 146.78 (daily high), 147.09 (100-hour SMA) and 148.42 (Nov 21 high). On the downside, supports could be found at 145.57 (daily low), 145.13 (Nov 18 low) and 145.00 (psychological level).