With elections in Japan already finished and the clear victory from the Abe's conservative party, Yen is taking a nosedive across the board, included against Euro, that prints Friday highs levels, last at 1.3170, slightly higher from the open. Not major news ahead in the Asian Session, till later on Monday Draghi speech at 14:30 GMT in Brussels to testify before the committee on Economic and Monetary Affairs.
EUR/JPY is last above 111.00, right around previous year 2012 highs from late March. According to FXWW founder Sean Lee, the EUR/USD pair will be today “heavily influenced by EUR/JPY flows,” the analyst says, with most other pairs not moving much, but only Yen across the board. While writing these lines EUR/USD is breaking to fresh 7-1/2 month highs last at 1.3184.
Immediate resistance to the upside for EUR/USD shows at recent session and fresh 7 and a half month highs at 1.3186, followed by March 29 lows at 1.3250, and May 01 highs at 1.3284. To the downside, closest support shows at Friday's highs 1.3174, followed by Friday's London session highs at 1.3120, and Thursday's highs at 1.3100 round.
EUR/JPY is last above 111.00, right around previous year 2012 highs from late March. According to FXWW founder Sean Lee, the EUR/USD pair will be today “heavily influenced by EUR/JPY flows,” the analyst says, with most other pairs not moving much, but only Yen across the board. While writing these lines EUR/USD is breaking to fresh 7-1/2 month highs last at 1.3184.
Immediate resistance to the upside for EUR/USD shows at recent session and fresh 7 and a half month highs at 1.3186, followed by March 29 lows at 1.3250, and May 01 highs at 1.3284. To the downside, closest support shows at Friday's highs 1.3174, followed by Friday's London session highs at 1.3120, and Thursday's highs at 1.3100 round.
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