EUR/JPY rally fails to 124,00

FXStreet — The better dynamics of the Japanese currency leads to a decline in the EUR/JPY, away from the day high in the field of 124,00.

EUR/JPY gains limited in the vicinity of the 124,10

According to the the new 5-month high formed over 124,00, fell of course to the 123,30, while the demand for the safe haven of the JPY will increase.

Add to that the sentiment towards the Euro is now on the decline, as it comes after the Emmanuel Macron victory over the right candidate, Marine Le Pen (65% vs. 35%) to profit-taking.

The factory orders in Germany rose in March on a monthly basis by 1.0%, which corresponds to the forecast. Next is waiting for us , the Sentix investor confidence in the Eurozone.

EUR/JPY relevant levels

Currently, the daily loss of EUR -0.48% at 123,37 and the next Resistances is at 122,87 (Deep-5. May) 122,53 (Tief 4. May) and 121,91 (23,6 % Fibo of the April to may rally). On the other hand, Resistances can be found at 124,11 (2017 High 8. May), 124,13 (High 14. December 2016) and 124,67 (12. May 2016).

** FXStreet News Editorial, FXStreet**

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