FXStreet (Guatemala) – EUR/JPY is currently trading at 139.90 with a high of 139.96 and a low of 138.67.
EUR/JPY price action
EUR/JPY has recovered from the bearish gap formed at the close of last week and the open of this week’s business. The bulls are testing the upside and have and have exceeded the top of the hammer of Friday’s business which is bullish.
Today was a full on day of Greek chatter. Just recently over Reuters, we have heard from the Greek FM that it is unlikely that any deal will be struck at tomorrow’s Eurogroup meeting. Meanwhile, Greek officials said that they are open to making changes to the reforms so long as pensions are unaffected.
Meanwhile, we await the BoJ tomorrow. The press conference will be of great interest in respect to the price of the Yen and risks remain to the downside in such an event where officials clarify that indeed the Yen is too weak too fast.
EUR/JPY technically bullish
Technically, we are en route to the psychological 140 level now that last week’s hammers high has been crossed. This could bring in the 1.41 level. this would be very bullish and could instigate positioning higher for a continuation of the bull trend.
(Market News Provided by FXstreet)