6 Dec 2013
EUR/JPY reaches fresh 5-year highs
FXstreet.com (Córdoba) - The EUR/JPY broke decisively above the 140.000 mark amid broad yen weakness and reached its highest level in more than 5 years during the New York session.
The EUR/JPY triggered stops and rallied to a peak of 140.65, last seen October 2008, before some profit taking halted the advance. At time of writing, the EUR/JPY is trading at the 140.40 area, recording a 0.9% gain on the day.
EUR/JPY levels to watch
If the EUR/JPY breaks above 140.65, next resistances could be found at 141.00 (psychological level/61.8% Fibo of 169.97/94.12) and 141.73 (Oct 14 2008 high). On the flip side, supports are seen at 140.00/139.90 (psychological level/10-hour SMA) and 138.60 (200-hour SMA).
The EUR/JPY triggered stops and rallied to a peak of 140.65, last seen October 2008, before some profit taking halted the advance. At time of writing, the EUR/JPY is trading at the 140.40 area, recording a 0.9% gain on the day.
EUR/JPY levels to watch
If the EUR/JPY breaks above 140.65, next resistances could be found at 141.00 (psychological level/61.8% Fibo of 169.97/94.12) and 141.73 (Oct 14 2008 high). On the flip side, supports are seen at 140.00/139.90 (psychological level/10-hour SMA) and 138.60 (200-hour SMA).