FXStreet (Orlando) – The battle of the weakest. The Euro is advancing against the Japanese Yen as the pair bounced off 138.00 level to recover all losses of the day and to trade back at 139.00.
The Japanese Yen has been trading up since Thursday as the JPY was fueled by BoJ Kuroda’a comments that said he doesn’t see more weakness in the Yen. However, the 138.00 seems hard to be broken easily and currently the pair is up testing 139.00.
On the other hand, the Euro is trading under pressure following recent Greece debt developments and after Tsipras – Juncker arguing that provides more fuel to the Grexit believers on a possible Greece default.
Currently, GBP/JPY is trading at 191.63, up 0.05% on the day, having posted a daily high at 192.06 and low at 191.23. The hourly FXStreet OB/OS Index is showing neutral conditions, alongside the FXStreet Trend Index which is slightly bullish.
EUR/JPY levels
If the pair extends recovery beyond 139.00, it will find resistances at 139.45, 140.00 and 140.70. To the downside, supports are at 138.50, 138.00 and 137.70.
(Market News Provided by FXstreet)