From now on we Elev8
We're more than just a broker. We're an all-in-one trading ecosystem—everything you need to analyse, trade, and grow is in one place. Ready to elevate your trading?
Trading news
4 Apr 2013
Forex: EUR/JPY extends rally and now it's testing 124.00
FXstreet.com (San Francisco) - The Euro is on track to perform its biggest single day rally since November 2008 against the Japanese yen. In the last two hours, the EUR/JPY has rallied more than 200 pips from 121.80 pre-draghi level, to reach the highest price since March 21st.
Currently the EUR/JPY is trading at 123.80, 3.5% positive on the day. Pair is slightly billish according to the FXstreet.com trend index. Indicators such as MACD, CCI and Momentum are bullish while the Stochastic is bearish in the 1-hour chart.
As Adam Button from Forex live said, "Congratulations if you have been long all day, +450 pips since the BOJ decision."
Above the 124.00 level, next resistances are at 124.20/40 area ahead of the 125.00 frontier. On the down side, 126.65, 122.00 and 121.80 are supports.
Currently the EUR/JPY is trading at 123.80, 3.5% positive on the day. Pair is slightly billish according to the FXstreet.com trend index. Indicators such as MACD, CCI and Momentum are bullish while the Stochastic is bearish in the 1-hour chart.
As Adam Button from Forex live said, "Congratulations if you have been long all day, +450 pips since the BOJ decision."
Above the 124.00 level, next resistances are at 124.20/40 area ahead of the 125.00 frontier. On the down side, 126.65, 122.00 and 121.80 are supports.