The pair continued its earnings cycle following a temporary reversal of the previous day, generally driven by narrowing monetary policy and tightening gains in the EUR / USD parity with the narrowing of 10-year US-German bond yields.
The recent uptrend in the parity was driven by sales of the JPY against other currencies, largely re-emerging as European stocks opened up positively.
In addition, the German Final Consumer Price Index (TFE) data, explained in the same line as the expectations, helped reborn bulls and sent the parity to the daily summers of 129.66.
With the withdrawal of German data, US data and Fed President Yellen’s statement is expected.
The EUR / JPY pair is currently trading at 128.93 with a 0.16% loss.
Significant technical levels for EUR / JPY
129.66 / 71 (daily peak & pivot), 129.88 (5-DMA), 130.59 (July 12 peak) level resistance, 129.08 (5-day dip), 128.70/65 (classic S1 / Fib S2), 127.87 ) Levels of support.