EUR/JPY stalling below 114.70 around fresh 16-month highs

29/12/2012 16:23 AST

EUR/JPY has gained a generous +2.95% for the week so far, and +14.6% year to date, last at 114.40, coming all the way from record 11-year lows back in late July around the the 94 round figure. The cross printed fresh 16-month highs in early Tokyo trade at 114.70, few pips shy of 200 week SMA waiting around the 115.00 level.

"No sign yet of any slowdown in the EUR/JPY bull move and I suspect that Japanese investment funds have been buying this morning," says FXWW founder Sean Lee, adding: "and there are expected to be barriers in place ahead of 115.00," options related. "Japan's core CPI came in at -0.6% YoY, meaning that Abe and Co will have a tough job getting to their 2% target," the analyst notes.

Immediate resistance to the upside for EUR/JPY shows at mentioned multi-month highs 114.70, followed by Nov 2010 highs/200 week SMA at 114.95/115.00, and Oct 2010 highs at 115.68. To the downside, closest support lies at yesterday's highs/recent session lows 114.35, followed by yesterday's NY session lows/Wednesday's highs at 113.40, and Dec 19 highs at 112.53.


NASDAQ

Most Viewed Companies

Ticker Price Volume
SABIC 114.77 5,915,941
RIBL 13.83 1,519,548
JARIR 177.89 111,251
STC 83.41 257,644

Exchange Rate against US Dollar

US Dollar 1.00
Saudi Riyal 3.75
Derham Emirati 3.67
Qatari Riyal 3.65
Kuwaiti Dinar 0.30
Bahraini Dinar 0.38
Omani Riyal 0.39
Euro 0.81
British Pound 0.71
Japanese Yen 104.70

Recent News

Oman can defend its currency peg, central bank governor says

05/04/2018

Oman has the means to maintain its currency peg and has no plans to change it even though the decline in oil prices has hurt its finances, central bank Governor Tahir Al Amri said.

Oman’s g

Gulf News

China’s yuan to post biggest quarterly rise against dollar in a decade

02/04/2018

China’s yuan firmed against the dollar on Friday and is set to post its biggest quarterly gain in a decade, as the country attracts capital inflows and US trade frictions bolstered expectations of a

Gulf News

US dollar share of global currency reserves hits 4-year low — IMF

01/04/2018

The US dollar’s share of currency reserves reported to the International Monetary Fund declined in the final quarter of 2017 to a four-year low, as other currencies’ shares of reserves grew, data rel

Gulf News

US dollar weighed down by trade and interest rate policies

29/03/2018

The US Dollar Index, a measure of the value of the US dollar against a basket of currencies, teetered and dropped to quarterly lows in March, which also happen to be the lowest the index has been sin

The National

Turkish lira weakens beyond 4 against dollar as economy worries weigh

29/03/2018

Turkey’s lira weakened beyond the psychologically important level of 4.0 to the US dollar yesterday, bringing it close to a record low, as concerns about double-digit inflation, and politics, continu

Gulf Times

logo

Financial Information Co.

P.O. Box 69410, Riyadh 11547, Saudi Arabia

GCC Markets

Mutual Funds

News

Investment Tools

Sector News

Screeners

Indices & Commodities

Downloads

Copyright ©2001 - 2024, Financial Information Co. All Rights Reserved.

Terms of Services | Privacy Policy | Advertise with us | Contact Us | Sitemap