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Forex: EUR/JPY hovers near 5-month high

By FXstreet.com,  October 18, 2012, 12:02:00 PM EDT

FXstreet.com (Córdoba) - The euro rose to 5-month high versus the yen on Thursday as the Japanese currency weakened amid speculation the BoJ will ease its policy further at the October 30 meeting.

EUR/JPY extended gains into a sixth consecutive day and hit its highest since May 8 at 104.12. The pair however found resistance and failed to hold above the 104.00 mark, and it is currently trading at the 103.80 area, still up 0.3% on the day.

As for technical levels, immediate resistances are seen at 104.10, 104.60 and 105.00, while on the other hand supports could be faced at 103.50, 103.00 and 102.80.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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