EUR/JPY consolidating above key technical levels

FXStreet The EUR/JPY holds above the 122,00, a technically important level and he is ready for the highest daily closing price since the 10. March.

Since the beginning of the week the Pair is trading with a positive Outlook. Yesterday, the 122,00 has been tested and today, this level could be broken clear. The High was formed with the European trade in 122,59 and then, there was a moderate Pullback.

Currently, the trade takes place at 122,30/35, where the third day in a row, a win is recorded. A weak Yen supported the Couple since Monday. While the EUR/USD will continue to be traded in the Range of 1,0880 and 1,0925, could rise in the USD/JPY over 112,00 to the highest level since 6 weeks.

PMI, surveys, and elections

Today, the Euro zone’s PMI manufacturing was at 56.7, below the initial estimate of 56.8. Tomorrow, the EU Q1 GDP. The main Event will be the Fed decision and this could provide volatility in the financial market.

What Greece regards as the potential rescue package leads to an additional Boost for the Euro. Another factor is the result of the survey in front of the 2. Round of the French presidential elections, which Macron in front of Le Pen in the lead to see.

** FXStreet News Editorial, FXStreet**

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