FXStreet (Guatemala) – EUR/JPY is currently trading at 134.90 with a high of 134.94 and a low of 134.78.
EUR/JPY is higher on the basis that some tagged on to the wires of high hopes for the Greeks meeting their payment deadlines overnight while in fact, the Yen is being hammered from all directions, with USD/JPY testing key 124 territory overnight in the US shift. We had the IMF recently calling for the reinforcement of all three arrows of Abenomics which the Yen has been unable to shake this week as markets get set for the potential of additional government bond purchases of longer maturities.
The cross also had a boost from a recovery in stocks which has added to the big figure move over night. We have just had a series of data releases, with retails sales rising but below expectations.
To the downside, 131.09 55 DMA is of interest to the bears and a break of that would open up risk for 126.08 April lows while to the topside, so long as 134.50 holds up, demand could be on the cards for scores and closes on the 135 handle again this week with 137.00 as a target on a recovery of 17th May slide.
(Market News Provided by FXstreet)