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8 Apr 2013
Forex: EUR/JPY operating off session highs at 128.58/61
FXstreet.com (Barcelona) - The EUR/JPY has bulled its way ahead to a session high of 128.72 during European trading Monday, having held onto and subsequently expanded on last weeks advances. In these moments, the pair is operating just off its maximums, trading at 128.58/60, up +0.92%.
Chief Lagarde praised the BoJ's decision to embark on a more aggressive round of QE, noting this 'welcome step' would help prop up global economic growth. Lagarde's remarks should be seen as an international green light for the BoJ to keep its foot firmly on the accelerator, although not all Japan's trade partners would approve so unreservedly.
Mataf.net analysts points to short-term supports at 129.53, onto 131.19, and 134.02. On the decline, the EUR/JPY is slated to face short-term support at 125.04, ahead of 122.21, and finally the 120.55 handle.
Chief Lagarde praised the BoJ's decision to embark on a more aggressive round of QE, noting this 'welcome step' would help prop up global economic growth. Lagarde's remarks should be seen as an international green light for the BoJ to keep its foot firmly on the accelerator, although not all Japan's trade partners would approve so unreservedly.
Mataf.net analysts points to short-term supports at 129.53, onto 131.19, and 134.02. On the decline, the EUR/JPY is slated to face short-term support at 125.04, ahead of 122.21, and finally the 120.55 handle.