Forex: EUR/JPY capped below fresh 17-month highs at 116.00
FXstreet.com (Barcelona) - EURJPY is currently near session lows last at 115.03, off session highs at 115.22, still higher for the year by +0.68%. The cross is retracing from fresh 17-month highs yesterday around the 116 figure, once EURUSD was knocked down again from the 1.33 round level.
"EURJPY will again be the key and I would not be surprised to see a wide 113/116 range over the next two days," says FXWW founder Sean Lee, adding: "Risk-reward would therefore seem to suggest that selling rallies from current levels at 115.10 may prove to be a more profitable play?"
Immediate support to the downside for EURJPY lies at Dec 28 highs 114.69, followed by NY session lows 114.55, and yesterday's lows at 114.14. To the upside, closest resistance shows at session highs 115.21, followed by yesterday's fresh 17-month highs at 116.00, and April 18 2011 lows at 116.44.
"EURJPY will again be the key and I would not be surprised to see a wide 113/116 range over the next two days," says FXWW founder Sean Lee, adding: "Risk-reward would therefore seem to suggest that selling rallies from current levels at 115.10 may prove to be a more profitable play?"
Immediate support to the downside for EURJPY lies at Dec 28 highs 114.69, followed by NY session lows 114.55, and yesterday's lows at 114.14. To the upside, closest resistance shows at session highs 115.21, followed by yesterday's fresh 17-month highs at 116.00, and April 18 2011 lows at 116.44.
Free Annual Reports
