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2 Jun 2015
EUR/JPY: Through key technicals on fundementals
FXStreet (Guatemala) - EUR/JPY is currently trading at 135.88 with a high of 135.93 and a low of 135.63.
There is some optimism in the EZ over a Greek deal being struck this week, EUR/JPY has moved up through stop territory and cleared the 137 without any brakes applied, before crashing in to 138.00 and further demand went to test the 138.80.
The move has seen the euro fly high all over the place and stops have been tripped, with a squeeze in EUR/USD up to test the fall in May from up on 1.1200. Fundamentals are in the driving seat, although Greece is a situation with developments and progress that can change at a drop of a hat. Karen Jones, chief analyst at Commerzbank explained that the Elliot wave count on the weekly chart is found at 139.05 and they are alert to initial failure in this zone.
There is some optimism in the EZ over a Greek deal being struck this week, EUR/JPY has moved up through stop territory and cleared the 137 without any brakes applied, before crashing in to 138.00 and further demand went to test the 138.80.
The move has seen the euro fly high all over the place and stops have been tripped, with a squeeze in EUR/USD up to test the fall in May from up on 1.1200. Fundamentals are in the driving seat, although Greece is a situation with developments and progress that can change at a drop of a hat. Karen Jones, chief analyst at Commerzbank explained that the Elliot wave count on the weekly chart is found at 139.05 and they are alert to initial failure in this zone.