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EUR/JPY rallies to hit new 4-yr high

FXstreet.com (Barcelona) – EUR/JPY was given a strong boost in the last few minutes, taking the pair from 137.00 session low all the way up to 137.40, rise which represents a new 4-year high.

Traders are now watching closely 101.50 option in USD/JPY, with a break higher likely to induce further broad-based Yen weakness. As Haruya Ida, Analyst at IFR Markets, notes: “Stops above 101.50 and 101.55-60 in USD/JPY; Break above targets move option barriers at 102.00 – every 50-ticks up.”

According to Valeria Bednarik, Chief Analyst at FXstreet.com: “In the 4 hours chart the upward tone prevails, with scope for …read more