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9 Sep 2013
EUR/JPY shoots above 131.50 as Tokyo 2020 wins
FXstreet.com (Barcelona) - The EUR/JPY foreign exchange cross rate is currently trading at 131.53 off recent session highs at 131.65 following Tokyo wining 2020 nomination to hold Olympic games, with Nikkei futures pointing for a higher open above the 14k points mark.
EUR/JPY likely to fill the 131.20 gap
According to IFRMarkets analyst Andrew Spencer the 131.20 are is a base now, as “these 'gaps' are usually filled,” Spencer noted. Japan final GDP and current account at 23:50 GMT will be next risk events ahead of the Tokyo open, followed by China CPI at 01:30 GMT, with most local share markets pointing to a risk-on session.
EUR/JPY key technical levels
Immediate resistance to the upside for EUR/JPY shows at recent session highs 131.65 followed by Thursday's highs at 132.15, while to the downside closest support lies at past Mon/Tues highs 131.35/45, followed by August 19/21 highs at 131.05.
EUR/JPY likely to fill the 131.20 gap
According to IFRMarkets analyst Andrew Spencer the 131.20 are is a base now, as “these 'gaps' are usually filled,” Spencer noted. Japan final GDP and current account at 23:50 GMT will be next risk events ahead of the Tokyo open, followed by China CPI at 01:30 GMT, with most local share markets pointing to a risk-on session.
EUR/JPY key technical levels
Immediate resistance to the upside for EUR/JPY shows at recent session highs 131.65 followed by Thursday's highs at 132.15, while to the downside closest support lies at past Mon/Tues highs 131.35/45, followed by August 19/21 highs at 131.05.