The single currency is now losing some upside momentum, dragging EUR/JPY to the area of 118.40.
EUR/JPY up on Brexit, failed above 119.00
The cross is coming down from overnight highs above 119.00 the figure today, with the up move largely propped up by a better tone in the risk-associated space.
Latest poll results in the EU-UK Referendum published over the weekend have signaled the ‘Stay’ vote has regained traction, alleviating concerns over the probability of a ‘Brexit’ event.
On the data front, Japanese trade balance posted a ¥41 billion deficit during May, down from April’s ¥824 billion surplus.
EUR/JPY relevant levels
At the moment the cross is advancing 0.83% at 118.45 and a break above 119.14 (high Jun20) would expose 120.90 (20-day sma) and finally 122.57 (55-day sma). On the other hand, the next support aligns at 115.50 (2016 low Jun.16) followed by 113.54 (monthly low January 2013) and then 105.93 (monthly low December 2012).
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.