Forex: EUR/JPY finds 107 too hard to break
FXstreet.com (Barcelona) - EURJPY is currently at 106.57, off previous fresh 7-month highs at 107.13 on the back of latest BoJ minutes, giving hopes for further monetary policy easing. The bank also noted weakening economic environment. Now all eyes will focus on Eurogroup meeting taking place Monday, expected to bring some solution for next aid tranche for Greece, although highly unlikely this happens.
Nikkei index surged as well to fresh highs slightly below the 9500 points, highest since May 01, which later on turned to the downside along with USDJPY and EURJPY with it, following BoJ governor Shirakawa's comments from a press conference held in Nagoya. USDJPY dipped to fresh session lows at 82.19, and EURJPY to 106.48.
Immediate support to the downside for EURJPY lies at current levels as May 02 highs 106.54, followed by Nov 22/23 lows at 105.72, and April 10/11/30 lows at 105.45. To the upside, closest resistance shows at recent session/7-month highs 107.13, followed by April 25 highs at 107.64, and April 20 highs at 108 round.
Nikkei index surged as well to fresh highs slightly below the 9500 points, highest since May 01, which later on turned to the downside along with USDJPY and EURJPY with it, following BoJ governor Shirakawa's comments from a press conference held in Nagoya. USDJPY dipped to fresh session lows at 82.19, and EURJPY to 106.48.
Immediate support to the downside for EURJPY lies at current levels as May 02 highs 106.54, followed by Nov 22/23 lows at 105.72, and April 10/11/30 lows at 105.45. To the upside, closest resistance shows at recent session/7-month highs 107.13, followed by April 25 highs at 107.64, and April 20 highs at 108 round.
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