EUR/JPY extends recovery towards 137

FXStreet (Mumbai) – EUR/JPY keeps red, although recovered from a dip below 136 level in the mid-European session, after news crossed the wires that Greek PM Tsipras is reconsidering European Commission (EC) Chief’s last minute deal offered on Tuesday late night, which offered some respite to EUR bulls.

EUR/JPY bounces-off 135.89

Currently, the EUR/JPY pair trades -0.71% lower at 136.75, retreating from 135.89 lows recorded earlier this session. The cross in EUR/JPY recovered half its slide amid latest Greek update which states that Greek government might accept the last minute opportunity to reach a deal offered by EC’s Juncker. While Euro zone CPI data was completely ignored by markets as focus once again shift towards Greece.

On the JPY side, the recovery in EUR/JPY can also be partly attributed to a slightly easing yen from its session highs versus the US dollar as Greek concerns seem to fade.

EUR/JPY Technical Levels

To the upside, the next resistance is located at 137 levels and above which it could extend gains 137.65 (Today’s High) levels. To the downside immediate support might be located at 135.89 (Today’s Low) below that at 135.09 (June 1 Low) levels.

EUR/JPY keeps red, although recovered from a dip below 136 level in the mid-European session, after news crossed the wires that Greek PM Tsipras is reconsidering European Commission (EC) Chief’s last minute deal offered on Tuesday late night, which offered some respite to EUR bulls.

(Market News Provided by FXstreet)