EUR/JPY climbs to fresh 2-week highs near 130.30


  • EUR/JPY extends the daily upside above 130.00.
  • The dollar remains on the defensive across the board.
  • US New Home Sales next on tap in the calendar.

The offered note around the dollar helps EUR/JPY to regain momentum beyond 130.00 the figure on Monday.

EUR/JPY up on risk appetite

EUR/JPY advances for the second session in a row and manages to clinch new multi-day highs further north of the 130.00 yardstick at the beginning of the week.

In fact, the generalized better mood surrounding the risk complex lift US yields and favours the selling bias in the Japanese safe haven, all at the same time underpinede by the bearish momentum in the buck.

In the docket, earlier data saw the German Business Climate easing to 100.8 in July according to the IFO survey. In the US, the Dallas Fed manufacturing gauge and New Home Sales are next on tap.

EUR/JPY relevant levels

So far, the cross is gaining 0.15% at 130.27 and a surpass of 130.67 (38.2% Fibo of the January-June rally) would expose 131.08 (weekly high Jul.13) and then 132.43 (monthly high Jul.1). On the downside, immediate support is located at 128.59 (monthly low Jul.20) seconded by 128.54 (61.8% Fibo of the January-June rally) and finally 128.47 (200-day SMA).

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. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news

How do emotions affect trade?
Follow up our daily analysts guidance

Subscribe Today!    

Latest Forex News


Latest Forex News

Editors’ Picks

EUR/USD bulls hang in there in slower pace Asia, Evergrande digested

EUR/USD is flat in a quiet Asian session following a turbulent start to the week. At the time of writing, EUR/USD is trading at 1.1728 between 1.1725 and 1.1731. Forex markets were quite contained given the scale of equity losses on the back of the Evergrande news. 

EUR/USD News

GBP/USD: Upside needs validation above 1.3670

GBP/USD takes a breather after the previous session’s heavy sell-off. The pair dropped below 1.3650 in a more than 100-pips movement. At the time of writing, GBP/USD is trading at 1.3660, up 0.03% for the day.

GBP/USD News

EUR/USD bulls hang in there in slower pace Asia, Evergrande digested

EUR/USD is flat in a quiet Asian session following a turbulent start to the week. At the time of writing, EUR/USD is trading at 1.1728 between 1.1725 and 1.1731. Forex markets were quite contained given the scale of equity losses on the back of the Evergrande news. 

EUR/USD News

Solana bulls panic selling could push SOL price sub -$100

Solana price makes new fourteen-day lows. Solana price has been on one wild ride since Friday. Major whipsaws in price action have generated uncertainty on both sides of the market. Bulls are likely trapped between $150 and $171.

Read more

The wrong question on Evergrande

The 3rd week of September keeps up with its negative seasonality as one of the worst weeks of the year amid surging fears of Fed taper and Evergrande.

Read more

Forex MAJORS

Cryptocurrencies

Signatures