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27 Nov 2013
EUR/JPY hits fresh 4-year high
FXstreet.com (Córdoba) - The EUR/JPY rose to its highest level in over 4 years Wednesday as a coalition deal in Germany lifted the shared currency across the board.
EUR/JPY breaks above 138.00
The EUR/JPY broke decisively above 138.00 and rallied to a fresh peak of 138.52 amid news Germany's two biggest political parties struck a deal to form a new government before year-end. The EUR/JPY is currently trading at the 138.40 zone, 0.7% above its opening price, recording its fifth daily gain in a row.
EUR/JPY technical levels
In terms of technical levels, if EUR/JPY breaks decisively above 138.50, it could rise towards 138.70 (Aug 7 2009 high) and 139.00 (psychological level). On the flip side, support levels are seen at 137.27 (daily low) 137.15 (Nov 26 low) and 137.00 (psychological level).
EUR/JPY breaks above 138.00
The EUR/JPY broke decisively above 138.00 and rallied to a fresh peak of 138.52 amid news Germany's two biggest political parties struck a deal to form a new government before year-end. The EUR/JPY is currently trading at the 138.40 zone, 0.7% above its opening price, recording its fifth daily gain in a row.
EUR/JPY technical levels
In terms of technical levels, if EUR/JPY breaks decisively above 138.50, it could rise towards 138.70 (Aug 7 2009 high) and 139.00 (psychological level). On the flip side, support levels are seen at 137.27 (daily low) 137.15 (Nov 26 low) and 137.00 (psychological level).