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EUR/JPY, 4-year highs; 137.40 pavement limits

FXstreet.com (Chicago) – EUR/JPY remains capped below the 137.40 ceilings ahead of a BoJ speech after consolidating strong rally fueling the pair to 4-year highs.

EUR/JPY Technical Levels

Price action reveals the pair remains capped below the 137.40 limit and yet manages to dominate the 4-year altitudes after the consolidation and extension of a rally and upward trendline that started last May 1st 2012). Long-term charts evidence upward trends. Offered at 137.23, the pair navigates between the supports aligned at 136.57 (November 24th lows), 135.35 (November 17th highs) followed by 133.85 (November 20th highs) and the resistances set at 137.34 (November …read more