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22 Jun 2015
EUR/JPY hits fresh highs above 140
FXStreet (Mumbai) - EUR/JPY gathered further upside momentum and climbed to a new three day high ahead of 140 handle during the European session, largely on the back of broad yen weakness amid increased hopes for a Greek deal to be struck at the Euro group meeting today.
EUR/JPY extends rally from 139.27
Currently, the EUR/JPY pair trades 0.35% higher at 139.80, retreating from fresh session highs reached at 140.08 last hours. EUR/JPY extends gains this session mainly driven by a rally in USD/JPY beyond 123 barrier after the traders moved away from safe-havens such as yen on expectations of an optimistic Greek outcome as Euro group and Greece officials meet today to seek an agreement.
On the other hand, the shared currency keeps mild losses versus the US dollar heading into the North American session as markets now await US home sales data for further momentum.
EUR/JPY Technical Levels
To the upside, the next resistance is located at 140.07 (Today’s High) levels and above which it could extend gains 140.50 levels. To the downside immediate support might be located at 139.50 (June 4 Low) below that at 139 levels.
EUR/JPY extends rally from 139.27
Currently, the EUR/JPY pair trades 0.35% higher at 139.80, retreating from fresh session highs reached at 140.08 last hours. EUR/JPY extends gains this session mainly driven by a rally in USD/JPY beyond 123 barrier after the traders moved away from safe-havens such as yen on expectations of an optimistic Greek outcome as Euro group and Greece officials meet today to seek an agreement.
On the other hand, the shared currency keeps mild losses versus the US dollar heading into the North American session as markets now await US home sales data for further momentum.
EUR/JPY Technical Levels
To the upside, the next resistance is located at 140.07 (Today’s High) levels and above which it could extend gains 140.50 levels. To the downside immediate support might be located at 139.50 (June 4 Low) below that at 139 levels.