EUR/JPY clinches fresh cycle peaks just above the 144.00 mark.Further upside now targets the 2015 high beyond 145.00.The rally in EUR/JPY looks everything but abated and is currently testing the area of new tops in the 144.00 neighbourhood.
The cross briefly probed the area just above the 144.00 mark and opened the door to the continuation of the rally in the very near term. That said, there are no relevant hurdles until the 2015 high at 145.32 (January 2) ahead of the 2014 peak at 149.78 (December 8).
In the meantime, while above the 2-month support line near 135.90, the short-term outlook for the cross should remain bullish.EUR/USD retreats from daily highs, holds above 1.0700
EUR/USD has lost its traction after having climbed toward 1.0750 earlier in the day with the dollar capitalizing on rising US T-bond yields. The data from the EU showed on Wednesday that the annualized GDP grew by 5.4% in the first quarter, compared to the market expectation of 5.1%.
EUR/USD News
USD/JPY climbs above 134.00 as US yields push higher
USD/JPY has extended its rally and advanced beyond 134.00 for the first time in two decades. Rising US Treasury yields highlight the BOJ-Fed policy divergence and continue to fuel the pair’s upsurge mid-week.
USD/JPY News
Gold range play to extend around $1,850 ahead of US inflation
Gold Price is reversing a part of the previous recovery gains, in light of a notable US dollar demand alongside rebounding Treasury yields. The dollar capitalizes on the risk-off flows, courtesy of global recession fears, as central banks tighten monetary policy to fight inflation.
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