5 Mar 2014
EUR/JPY rises back above 140.00
FXStreet (Córdoba) - The EUR/JPY rose more than a hundred pips on Tuesday, climbing back above 140.00. The Euro rose constantly against the Yen during all day, erasing yesterday's losses and closed the downside gap after reaching levels on top of 140.30.
Early in Asia the pair continues to move to the upside, and recently reached a fresh 2-day high at 140.60 as the Yen remains weak across the board.
On a wider view the EUR/JPY continues to move sideways in the short-term with a key support level around 138.70 - 139.00. If the pair breaks below, the scenario could favor a major retracement of the Euro. To the upside, a daily close above 141.00 could signal a bullish continuation.
Early in Asia the pair continues to move to the upside, and recently reached a fresh 2-day high at 140.60 as the Yen remains weak across the board.
On a wider view the EUR/JPY continues to move sideways in the short-term with a key support level around 138.70 - 139.00. If the pair breaks below, the scenario could favor a major retracement of the Euro. To the upside, a daily close above 141.00 could signal a bullish continuation.