EUR/JPY reverses daily losses

FXStreet (Córdoba) - The EUR/JPY rallied to fresh daily highs, reversing intraday losses as stocks turned positive in Wall Street after Russia Putin said he is ready to discuss ideas and proposals for Ukraine.

EUR/JPY threatens 142.00

The EUR/JPY has risen more than half a cent within the last hours, extending a recovery from a weekly low of 141.14 to a high of 141.99. At time of writing, the cross is trading at the 141.95 zone, 0.25% above its opening price and close to retest yesterday's high of 142.08.

EUR/JPY technical levels

As for technical levels, immediate resistances could be found at 141.99 (May 7 high), 142.08 (May 6 high) and 142.37 (May 2 high). To the upside, supports are seen at 141.14/11 (May 7 and Apr 30 lows) and 140.98 (Apr 28 low).

May 7, 2014

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