- EUR / JPY cuts three-day streak with gains and falls back from highs in weeks.
- Among today’s highlights: the ECB minutes.
The EUR / JPY fell to 124.08 marking a new low for the day and extending the pullback after rising hours ago to 124.56, the high in two weeks.. The drop marks the first decline after a three-day rally.
The market is shown with limited tours, which could continue until the close of the week since it is a US holiday, which may detract from volume. In addition, no US economic reports will be published. What stands out are the minutes of the European Central Bank to be published in less than an hour.
The The rises are moderating the weekly gains and the dollar continues to seek to stabilize which favors the decline of the EUR / JPY. The cross once again failed to break above the 124.50 barrier, which is then followed by another major resistance at 125.00. If it closes above this last level, the euro would be ready to extend the advance.
One of the keys to the EUR / JPY rally may be the EUR / USD which is testing strong resistance around 1.1900 / 1.1920. Leaving that area behind, a general strengthening in the euro would be expected, which could boost the EUR / JPY.
Technical levels
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