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15 Feb 2013
Forex: EUR/JPY in highs around 125.00
The cross is trading in session highs in the proximities of 125.00 after the G20 gave green light to the current monetary easing in Japan, accelerating the weakness in the yen.
Against the backdrop of the G20 meeting in Moscow, the IMF President, C.Lagarde, among other officials, has backed the actual Japanese policy.
At the moment, the cross is up 0.60% at 124.85 facing the next resistance at 125.30 (Tenkan-Sen line) followed by 125.97 (high Feb.14) and then 126.58 (high Feb.13).
On the flip side, a breakdown of 122.90 (low Feb.15) would aim for 122.35 (low Jan.30) and then 122.09 (Kijun-Sen line).
Against the backdrop of the G20 meeting in Moscow, the IMF President, C.Lagarde, among other officials, has backed the actual Japanese policy.
At the moment, the cross is up 0.60% at 124.85 facing the next resistance at 125.30 (Tenkan-Sen line) followed by 125.97 (high Feb.14) and then 126.58 (high Feb.13).
On the flip side, a breakdown of 122.90 (low Feb.15) would aim for 122.35 (low Jan.30) and then 122.09 (Kijun-Sen line).