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FXstreet.com (Barcelona) - EUR/JPY has gained a generous +2.95% for the week so far, and +14.6% year to date, last at 114.40, coming all the way from record 11-year lows back in late July around the the 94 round figure. The cross printed fresh 16-month highs in early Tokyo trade at 114.70, few pips shy of 200 week SMA waiting around the 115.00 level.

"No sign yet of any slowdown in the EUR/JPY bull move and I suspect that Japanese investment funds have been buying this morning," says FXWW founder Sean Lee, adding: "and there are expected to be barriers in place ahead of 115.00," options related. "Japan's core CPI came in at -0.6% YoY, meaning that Abe and Co will have a tough job getting to their 2% target," the analyst notes.

Immediate resistance to the upside for EUR/JPY shows at mentioned multi-month highs 114.70, followed by Nov 2010 highs/200 week SMA at 114.95/115.00, and Oct 2010 highs at 115.68. To the downside, closest support lies at yesterday's highs/recent session lows 114.35, followed by yesterday's NY session lows/Wednesday's highs at 113.40, and Dec 19 highs at 112.53.

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