EUR/JPY: 5-year-and-a-half peaks above 139.27: checked

FXstreet.com (Chicago) - EUR/JPY continues being sparked by enraged bulls that don’t cease to print higher records after an extraordinary performance the pound has had so far this week.

EUR/JPY Technical Levels


Price action reveals the pair is relentlessly printing fresh highs reaching 5-year-and-a-half peaks on bullish move that extends the upward trendline that started last May 1st 2012 (lows). With a steep climbing move since last November 7th lows, the pair consolidates above the 139 front and aims for the 140 front, resistance, on a heavier Friday, data-wise. Offered at 139.22, the pair oscillates between the supports aligned at 138.79 (November 26th lows), 138 (November 25th highs) ahead of 137.10 (November 26th highs) and the resistances set at 140 (May 10th 2006 lows), 141.46 (October 20th highs 2005) followed by 143.46 (August 1st 2005 highs). According to the FXstreet.com trend index on one-hour timeframe analysis, the pair is slightly bullish and navigates above the EMA20.
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