EUR/JPY moves to session tops near 125.20
|- The cross gathers further traction beyond the 125.00 handle.
- Risk-on sentiment continues to support the up move.
- US-China trade negotiations to resume later in the week.
The now better tone in the European currency is helping EUR/JPY to advance further and print fresh daily highs near 125.20.
EUR/JPY now targets 126.00 and beyond
After three consecutive daily pullbacks, the cross has now managed to pick up pace and advance to new 2-day highs beyond 125.00 the figure, always sustained by the improved mood in the risk-associated universe.
Recent progress in the US-China trade talks has been collaborating with the upbeat sentiment in the global riskier assets, while the continuation of the negotiation is expected later this week in Washington.
Nothing relevant in the docket today, while the ZEW survey will be published on Tuesday and advanced February PMIs in Euroland expected on Thursday along with ECB minutes.
In japan, key inflation figures (Friday) will be the sole release in an otherwise empty calendar.
EUR/JPY relevant levels
At the moment the cross is gaining 0.40% at 125.21 and a surpass of 125.54 (high Feb.13) would expose 125.78 (55-day SMA) and finally 125.94 (high Feb.4). On the other hand, the next support lines up at 124.22 (low Feb.15) seconded by 124.17 (low Feb.8) and then 123.39 (low Jan.15).
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.