Forex: EUR/JPY jumps above 123.00 on Cyprus

FXstreet.com (San Francisco) - The Euro is trading higher right now across the board on the back of rumors of Cyprus resolution. Against the Japanese yen, the euro has jumped around 65 pips in the latest hour from 122.80 to break above the 1.2300 level and reach intraday high at 123.45.

With 0.57% daily gains, the EUR/JPY is trading inside a slightly bullish trend according to the FXstreet.com Forex Studies. CCI and Momentum are bullish while Stochastic is bearish and MACD is neutral in the 1-hour chart.

Next resistances are at 123.40, 124.00 and 124.45. Supports come at 122.70, 122.00 and 121.50.