EUR/JPY spikes to 136.00 on BoJ

By FXStreet FXStreet (Edinburgh) – The Japanese yen abruptly depreciated to the 136.00 are vs. the European currency on Thursday, although EUR/JPY has quickly returned to the 133.30 area.

EUR/JPY stronger on BoJ comments

A member of Japan’s ruling party has hinted at the likeliness that further easing in the domestic economy is needed in order to clinch the inflation target set by the BoJ in the first half of the next year, triggering an ephemeral knee jerk in JPY.

The cross will remain driven almost exclusively by risk appetite sentiment, without any releases in both Japan or the euro area.

EUR/JPY levels to consider

As of writing the cross is advancing 0.22% at 135.35 with the next resistance at 135.90 (spike Sep.10) ahead of 136.24 (high Sep.1) and finally 137.59 (high aug.26). On the other hand, a breakdown of 134.75 (low Sep.10) would aim for 134.25 (low Sep.9) and then 133.25 (low Sep.8).
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Source:: FX Street