Description
⋅ Stimulus hopes from BoJ pushed yen lower, supporting EUR/JPY to hit new 1-week highs at 114.54.
Risk-on sentiment remains firm supporting the upbeat momentum in EUR.
Data released earlier today showed German CPI data was largely in line with expectations.
Euro extends gains after German CPI data, currently, EUR/JPY trades at 114.51. Techs support further upside.
Immediate support and resistance are seen at 113.70 (trendline) and 114.42 (100-DMA).
Good to long breakout above 114.42, SL: 113.70, TP: 115/115.46/116