EUR/JPY analysis: still unable to break higher

Valeria Bednarik FXStreet

EUR/JPY Current price: 130.47

The EUR/JPY pair edged higher this Monday, recovering the 130.00 level and settling not far below a daily high of 130.56, as EUR's strength outpaced yen's one against the greenback. Still both currency strengthened against a whacked dollar, although yen gains were limited by US Treasury yields that posted a modest intraday advance. The 10-year note threshold settled around 2.29%, pretty much unchanged from Friday's close, whilst for the 30-year note, interests surged to 2.90% from previous 2.89%. Despite holding near the mentioned high, the pair is still unable to surpass 130.76, this year high posted on July 11th, with multiple intraday highs around the current level ever since. In the 4 hours chart, the price has held above an anyway horizontal 100 SMA, whilst the 200 SMA keeps advancing well below the shortest. Technical indicators in the mentioned time frame have entered bullish territory, but present a modest upward potential, suggesting additional confirmations are required ahead of a bullish extension.

Support levels: 130.05 129.65 129.30

Resistance levels: 130.75 131.20 131.60

View Live Chart for the EUR/JPY

Author

Valeria Bednarik

FXStreet

Valeria Bednarik was born and lives in Buenos Aires, Argentina. Her passion for math and numbers pushed her into studying economics in her younger years.

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