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22 May 2015
EUR/JPY capped by 10-DMA, near 135.20
FXStreet (Mumbai) - EUR/JPY pierced through the 135 handle and accelerated gains in the mid-European session, largely on the back soaring single currency following a set of optimistic German macro data.
EUR/JPY off session highs at 135.34
Currently, the EUR/JPY pair 0.57% higher at 134.27, supported above hourly 200-SMA located at 135.20. EUR/JPY extends gains this session as the shared currency climbed higher across the board amid a generalized USD weakness while markets continue to digest above estimates German releases.
On the other hand, the yen seems to have erased most gains against the US dollar, which contributed to the spike in the EUR/JPY cross.
Later in the day, Fed Chair Janet Yellen is due to speak on the economy to the Greater Providence Chamber of Commerce, and traders will be watching for her remarks amid hopes she would say something more about the central bank' future steps, having major impacts on USD.
EUR/JPY Technical Levels
To the upside, the next resistance is located at 135.83 (May 19 High) levels and above which it could extend gains 136 levels. To the downside immediate support might be located at 134.23 (May 21 Low) below that at 133.93 (May 20 Low) levels.
EUR/JPY off session highs at 135.34
Currently, the EUR/JPY pair 0.57% higher at 134.27, supported above hourly 200-SMA located at 135.20. EUR/JPY extends gains this session as the shared currency climbed higher across the board amid a generalized USD weakness while markets continue to digest above estimates German releases.
On the other hand, the yen seems to have erased most gains against the US dollar, which contributed to the spike in the EUR/JPY cross.
Later in the day, Fed Chair Janet Yellen is due to speak on the economy to the Greater Providence Chamber of Commerce, and traders will be watching for her remarks amid hopes she would say something more about the central bank' future steps, having major impacts on USD.
EUR/JPY Technical Levels
To the upside, the next resistance is located at 135.83 (May 19 High) levels and above which it could extend gains 136 levels. To the downside immediate support might be located at 134.23 (May 21 Low) below that at 133.93 (May 20 Low) levels.