- EUR / JPY extends bullish run after breaking 130.30.
- Dollar weakness, together with rise in equity markets fuel the cross’s rebound.
The EUR / JPY broke above 130.20 first and then the 130.30 barrier, climbing to 130.48, the highest level since July 13. The price remains in the high zone, driven in part by the EUR / USD rally and good mood in the markets.
The decisions of the Federal Reserve on Wednesday, They left the dollar weak and in part did not generate setbacks in the equity markets, fueling the continuation of the EUR / JPY rebound from the low in weeks reached the previous week near 128.50.
Regarding data, the publication of the minutes of the last meeting of the European Central Bank (ECB) and inflation data for Germany. Consumer confidence figures for the region were generally better than expected for what was July.
In JapanOn Friday, unemployment data for June, retail sales for May, industrial production for June and the real estate sector will be released, although a great influence from these is not expected.
Levels to consider
To the upside, resistances can be seen at 130.60, followed by 130.85 and 131.10 (July 13 high). The strong bullish tone is expected to hold for the next few hours, as long as the cross continues above 130.30 / 35. A return below would draw strength, with the next support at 130.05 and 129.60 (July 28 low).
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