10 Jul 2015
EUR/JPY hits fresh weekly highs above 136.50
FXStreet (Mumbai) - EUR/JPY emerged the biggest gainer across the FX board in the mid-European session, with the cross receiving double impetus from a strongly bid euro while tumbling yen also provided the much-needed respite. The common underlying factor affecting both the currencies remained Greece.
EUR/JPY boosted by Greece news
Currently, the EUR/JPY pair rallies 1.97% higher at 136.56, quickly retracing from one-week highs posted at 136.77. The cross witnessed steep gains so far as the euro continues to get boosted on Greece, especially after Greece headlines crossing the wire speak about a Greek deal to be reached ‘probably today’
While FT’s Spiegel noted that “EU official confirms no EU summit Sunday if Greece deal agreed at Euro group Saturday”, which further fuelled the optimism on Greece. However, the yen suffered the most on Greece, which eventually contributing to the upward rally in EUR/JPY
EUR/JPY Technical Levels
To the upside, the next resistance is located at 136.77 (Today’s High) levels and above which it could extend gains 137 levels. To the downside immediate support might be located at 135.84 below that at 134.57 levels.
EUR/JPY boosted by Greece news
Currently, the EUR/JPY pair rallies 1.97% higher at 136.56, quickly retracing from one-week highs posted at 136.77. The cross witnessed steep gains so far as the euro continues to get boosted on Greece, especially after Greece headlines crossing the wire speak about a Greek deal to be reached ‘probably today’
While FT’s Spiegel noted that “EU official confirms no EU summit Sunday if Greece deal agreed at Euro group Saturday”, which further fuelled the optimism on Greece. However, the yen suffered the most on Greece, which eventually contributing to the upward rally in EUR/JPY
EUR/JPY Technical Levels
To the upside, the next resistance is located at 136.77 (Today’s High) levels and above which it could extend gains 137 levels. To the downside immediate support might be located at 135.84 below that at 134.57 levels.