EUR JPY expands its upward momentum
12/13/2016 8:49:07 AM
EUR/JPY expands its upward momentum for the 3rd straight session this Tuesday, mostly driven by 65-pips recovery in USD/JPY.
At present, EUR/JPY trades +0.25% higher at daily highs of 122.70, heading for a test of Monday’s high got at 122.95. The cross in EUR/JPY stays strongly bid among extensive JPY decline as risk-on movements back to the Japanese equities.
The pair has an instant persistence at 122.95, above which 123.35 could be tested. On the other hand, support is seen at 122.20 that at 121.90.
FOREX Fundamental Analysis
Written by FxErvin