FXStreet – After a short Test of 124,00 with the early trading, the buying interest compared to the EUR/JPY and so it came to an increase in the 124,20, near the days high.
EUR/JPY gains limited in the vicinity of the 124,60
Since the low for the year at the beginning of April 114,80 was formed in the Pair is increased within 4 weeks to 1000 Pips. The year high was made on Monday at 124,60.
The increasing risk appetite of the last few weeks led to a withdrawal of capital from the safe haven of the JPY and this is an important driver for the upward momentum. Add to this the strong recovery of the Euro in connection with the outcome of the French presidential elections..
Japan’s Eco Watchers survey surprised in April with a rise. The European Commission is its Economic forecasts, and the ECB economic Bulletin publish.
EUR/JPY relevant levels
Currently, the daily profit is 0.01 % in the case of 124,22 and the next Resistances lie at 124,61 (2017 High 8. May), 124,67 (12. May 2016) and 126,50 (High 28. April 2016). On the other hand, supports are located at 123,46 (Deep 10. May), 122,87 (Deep-5. May) and 122,29 (23,6 % Fibo of the April to may rally).
** FXStreet News Editorial, FXStreet**