Apr 11, 2013
Forex: EUR/JPY notches another new high, +7.859% MTD in April
The EUR/JPY finished the session 69 pips higher at 130.42. Reaction to economic data out of Japan (Machinery Orders 7.5% actual vs. 6.9% forecast) earlier this evening was muted as the pair consolidates above massive gains from the previous 4 days. “EUR/JPY is consolidating above 130.00 and volatility is likely to remain very high so stay flexible on this one. The next technical target is a weekly high above 134.00 whilst support levels aren’t really strong until 127.75.” notes Sean Lee of FXWW
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