The euro headed higher against the U.S. dollar during Asian trade on Wednesday, to a high of 1.3115. The EUR/JPY triggered stops, hitting a high of 107.89, and helping the EUR/USD to get a boost. Helping the euro is also the optimism that the buyback of Greek bonds will go smoothly. The USD/JPY is up, hitting a high of 82.32, after BoJ Nishimura stated that powerful BoJ easing would help prevent any more yen appreciation and that the central bank will continue to pursue powerful monetary easing.
EUR/JPY
The pair consolidated below the 107.67 high for the last several sessions and just broke out of its range trading. A close above this level on the four hour chart will suggest a breakout and should see a move towards the 108.40 and 108.80 levels. Support now at 106.80.
EUR/JPY H4" title="EUR/JPY H4" width="470" height="809">
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