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EUR/JPY forms double-top pattern at 130.36

FXstreet.com (Chicago) – EUR/JPY remains trading below 130.40 zone after several attempts to break through. Accumulating 0.35% daily gains, the euro strengthened after safe-haven market reaction triggered by the Syrian conflict the last couple of days.

Bulls outweighing bears

Market participants seem to be processing differently what is happening with Syria right now as indicated by a stronger USD and a weaker yen, safe-haven currency. The euro reached 130.58 intraday highs at the opening of the European trading session but retraced throughout the journey. In Europe, the M3 Money Supply growth rate was 2.2% (YoY) vs. previous 2.4% and estimates at …read more