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23 Jun 2015
EUR/JPY: Testing June channel support
FXStreet (Guatemala) - EUR/JPY is currently trading at 138.39 with a high of 140.03 and a low of 138.23.
EUR/JPY has been a heavy play and the bears take control as the week progresses, currently testing the support line of June's business with 140 slipping out of sight.
The EU summit concluded yesterday on positive grounds while although there being still a great deal of work to be done, as explained by IMF's Lagarde overnight, EU's Junker is confident that something will be agreed this week, when he said this in the press conference post the EU summit yesterday. In fact, today, it has been reported that the EZ finance ministers could approve a cash for reform deal as early as tomorrow.
EUR/JPY to break the key support?
EUR/JPY has started to test the support of Junes channel again, with 138.00 coming as key support while further positive sentiment in the Greek situation could be the catalyst for yet another rebound from this level and back towards the top of the channel and again targeting a break of the 140.00/65 level which would be very bullish.
EUR/JPY has been a heavy play and the bears take control as the week progresses, currently testing the support line of June's business with 140 slipping out of sight.
The EU summit concluded yesterday on positive grounds while although there being still a great deal of work to be done, as explained by IMF's Lagarde overnight, EU's Junker is confident that something will be agreed this week, when he said this in the press conference post the EU summit yesterday. In fact, today, it has been reported that the EZ finance ministers could approve a cash for reform deal as early as tomorrow.
EUR/JPY to break the key support?
EUR/JPY has started to test the support of Junes channel again, with 138.00 coming as key support while further positive sentiment in the Greek situation could be the catalyst for yet another rebound from this level and back towards the top of the channel and again targeting a break of the 140.00/65 level which would be very bullish.