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Forex pairs in this Article » EUR/JPY, USD/JPY
FXstreet.com (Barcelona) - Those out there with loans denominated in Japanese Yen must be cheering by now as EURJPY just printed another fresh 33-month high last at 125.42 on continued Yen weakness, as weakest major currency for last few weeks, USDJPY last at fresh highs 92.11, coupled with Euro strength. Euro is second strongest major currency for last few days, only below Swiss Franc.

EURJPY is +2.3% higher for the week, and around +22% since anticipated general elections were called in Japan by mid Nov. Nikkei index is also printing fresh multi-month highs around the 11200 points mark, up +0.75% for the day, helped on Yen weakness. Nikkei's chart RSI 14 in dailys is at its highest level around the 80 figure since year 2006. Overall, RSI indicator levels have gone thru the roof in Yen crosses, with EURJPY rising more in 3 months now than what it did from year 2006 to 2008.

Immediate resistance to the upside for EURJPY shows at May 04 2010 highs 125.45, followed by April 30 2010 highs at 125.96, and April 26 2010 highs at 126.30. To the downside, nearest term support lies at previous intraday high 125.05, followed by Wednesday's highs 123.87, and yesterday's highs/Monday's lows at 123.04.
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