Greece deal rumours sent EUR/JPY to highs since January

FXStreet (Orlando) – Another round of Greece deal rumours and the Euro just jumped across the board with the EUR/JPY rising to highs since January 14 at 138.90. However, Dijsselbloem said Greece deal still far and the Euro retraced something.

Regarding the Greece Deal, Dijsselbloem also commented that ‘creditors won’t meet Greece halfway,’ as the Greek package has to meet economic conditions. ECB’s Dijsselbloem finally stated that the “progress is still slow and insufficient.

Earlier in the day, the EUR/JPY was fueled by the Euro overall gains across the board and the EUR/USD rally to 1.1200 amid stop loss activation.

The EUR/JPY completed a 270 pips rally in the day from 136.10 to trade as high as 138.90, highest since January 14. Currently, EUR/JPY is trading at 138.32, up 1.45% on the day, having posted a daily high at 138.88 and low at 136.11.

The FXStreet OB/OS Index is reflecting overbought hourly conditions, while the FXStreet Trend Index is slightly bullish.

EUR/JPY Forecast

If the pair extends advance beyond 138.90, it will find resistances at 139.00, 139.60 and 140.00. To the downside, supports are at 137.50, 137.00 and 136.80.

Another round of Greece deal rumours and the Euro just jumped across the board with the EUR/JPY rising to highs since January 14 at 138.90. However, Dijsselbloem said Greece deal still far and the Euro retraced something.

(Market News Provided by FXstreet)