EUR/JPY is at the highs of the day, up 173 pips to 140.86. It’s also the highest since 2008.
The pair will almost certainly close the week above 139.22 which caps the cluster of 2009 highs. The looming level is the 61.8% retracement of the 2008-2012 drop, which comes in at 140.99. If that breaks, there is nothing stopping a rally all the way to 170.00.
EURJPY weekly