- For the fifth day in a row the EUR / JPY marks its highest years.
- Bullish bias remains firm despite overbought indicators, with no signs of correction.
The EUR / JPY continues to advance and reached 133.43 on Wednesday, reaching the highest level since April 2018. The price then fell back but held above 133.00 and is trading near the highs in the 133.35 area, in the run-up to the American session.
The You are still firm and despite the constant progress of the last days, which have led to several short and medium term technical indicators showing overbought levels, there is no indication of corrections or an upward brake. Although there are increasing risks.
On the one hand, the advance on Wednesday occurs despite the fall in the stock markets. Risk aversion is usually a negative factor for the EUR / JPY, but it is not being so at this time, courtesy of a rise in the yields of the Treasury bonds, which is making the USD / JPY rise. The 10-year rate peaked in one week at 1.66%.
Another factor that is very supportive for EUR / JPY is the EUR / USD rally, which earlier hit a month high at 1.2245, before reversing and erasing the day’s gains.
Technical levels
.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
