EUR/JPY off fresh weekly highs, near 135.50

FXStreet (Mumbai) – The shared currency extends its upbeat momentum versus the Japanese yen in the European session, keeping EUR/JPY well supported above 135 handle, largely driven by broad based strength seen in the shared currency as markets expect a Greek deal to happen soon. While a softer yen also added to the gains ahead of Japan CPI print due tomorrow.

EUR/JPY supported at 135.50

Currently, the EUR/JPY pair 0.50% higher at 135.50, retreating from fresh weekly highs reached at 135.64. EUR/JPY remains heavily bid mainly as broad based strength seen in the euro while persistent yen weakness benefits the cross.

Moreover, renewed optimism around Greece deal prospects keeps the shared currency underpinned against the Japanese currency.

Meanwhile, the greenback also remains under selling pressure ahead of today’s US jobless weekly claims and pending home sales which are expected to show mixed results.

EUR/JPY Technical Levels

To the upside, the next resistance is located at 135.64 (Today’s High) levels and above which it could extend gains 136 levels. To the downside immediate support might be located at 135 below that at 134.76 (Today’s Low) levels.

The shared currency extends its upbeat momentum versus the Japanese yen in the European session, keeping EUR/JPY well supported above 135 handle, largely driven by broad based strength seen in the shared currency as markets expect a Greek deal to happen soon. While a softer yen also added to the gains ahead of Japan CPI print due tomorrow.

(Market News Provided by FXstreet)