FXStreet (Edinburgh) – The Japanese yen is now depreciating further vs. its European counterpart on Monday, lifting EUR/JPY to session peaks above the 136.00 handle.
EUR/JPY boosted by EUR strength
The single currency is gathering further traction following the European open at the beginning of the week, forcing the cross to break above the overnight consolidative scheme around the mid-135.00s.
The cross is thus extending its correction higher following Friday’s sharp sell off in EUR, as markets continue to adjust to the potential scenarios in response to the steady stance of the Fed at its meeting last Thursday.
EUR/JPY important levels
As of writing the cross is advancing 0.45% at 136.08 and a breakout of 136.63 (high Sep.16) would expose 136.77 (high Sep.18) and then 137.44 (high Sep.17). On the flip side, the immediate support lines up at 135.38 (low Sep.21) followed by 134.88 (low Sep.10) and finally 134.25 (low Sep.9).
(Market News Provided by FXstreet)