by Fri, 03 Dec 2010 13:59:00 +0100
Forex: EUR/JPY rises above 111.00
FXstreet.com (Barcelona) - The EUR/JPY continues to rise over Europe today, as risk aversion wanes and the yen loses some of its safe-haven demand. The pair has jumped a fresh 20 pips in the last 30 minutes, extending its pullback from a daily low near 110.40 as it breaks above the 111.00 barrier.
Directly ahead of the highly-anticipated US nonfarm payrolls, the pair remains modestly bullish around a daily high of 111.10. According to Nicole Elliot at Mizuho Corporate Bank: “Strategy: Attempt small longs at 110.55; stop below 109.75. First target 111.50, then 113.00.”
| Technical Analysis (2010-12-03 12:45 GMT) | |
|---|---|
EUR/JPY 110.96/111.03 - O: 111.315 H: 111.465 L: 111.265 C: 111.38 | |
| Trend | R3: 111.58 |
 | R2: 111.31 |
| R1: 111.03 | |
| S1: 110.42 | |
| S2: 110.70 | |
| S3: 110.97 | |
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