EUR/JPY hits 1-month highs above 115.00

EUR/JPY rose further during the American session and climbed to 115.35, reaching the highest level since July 29. The pair was trading near the top, holding a bullish tone.

The rally of the last two hours was boosted by a rise of the EUR/USD, that climbed despite risk aversion. USD/JPY moved off daily highs avoiding an even stronger rally of EUR/JPY.

Technical levels

Today the euro is rising for the fifth day in a row against the yen and remains above the key 114.00 area, that was a strong resistance, that limited the upside during July.

To the upside, immediate resistance might be seen at 115.35 (daily high), 115.80 (July 28 low) and 116.15 (July 21 low). On the opposite direction, support could be located at 114.95 (Aug 30 high), 114.65/70 (Aug 29 high) and 114.40 (yesterday’s European session high).