- Limited advance of EUR / JPY due to fall of USD / JPY.
- Cross found resistance at 128.00, maintains intraday bullish tone.
EUR / JPY rises modestly on Friday. After approaching 128.00 he lost momentum and began to retreat. It is trading at 127.80, barely in positive territory for the day. In the very short term it maintains the bullish bias, but needs to break 128.00 to strengthen the movement.
Should the EUR / JPY pullback extend below 127.65, the intraday bias could shift to favoring downs. Supports below are at 127.50 and 127.25.
The rises are driven by the advance of the euro (significant rise in EUR / USD and EUR / CHF) and not because of the weak yen. The Japanese currency is appreciating against the dollar on Friday, which appears to be limiting the EUR / JPY’s advance:
Stock futures on Wall Street point to a positive open and in Europe the main indices in Europe are advancing giving extra support to the EUR / JPY.
In the next few hours the focus of attention is expected to continue on the Treasury bond market, Wall Street and there will also be data from the US and speeches from the Fed. The PMI manufacturing report and the sales data will be published. of existing US housing and will speak Thomas Barkin of the Richmond Fed and Eric Rosengren of the Boston Fed.
Technical levels
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