The now bid tone around the common currency is prompting EUR/JPY to re-visit the area of daily highs near 124.80.
EUR/JPY finds support around 124.00
After a brief test of the 124.00 area during overnight trade, the cross has managed to pick up pace and advance to the proximity of 124.80 backed by a renewed offered tone surrounding the Japanese currency.
Absent events in the euro area and Japan ahead in the session, February’s US Non-farm Payrolls will take centre stage, with prior surveys pointing to a creation of 190K jobs during last month.
EUR/JPY relevant levels
At the moment the cross is advancing 0.11% at 124.70 and a break above 125.77 (20-day sma) would aim for 125.91 (38.2% Fibo of 132.30-121.98) and finally 128.19 (high Feb.16). On the other hand, the next support aligns at 122.41 (low Feb.24) followed by 121.98 (2016 low Mar.1) and then 119.96 (monthly low Apr.2013).
(Market News Provided by FXstreet)
The post EUR/JPY challenges highs near 124.80 appeared first on forex-analytics.press.