EUR/JPY: A flat start for bulls eyeing key upside levels

FXStreet (Guatemala) - EUR/JPY is currently trading at 129.16 with a high of 129.37 and a low of 129.04.

EUR/JPY's recovery from the April and daily lows at 126.10 remains in tact with 130 the first major hurdle and then 130.70 and 131.30, early april high and then 131.70. The week is starting flat mind you with a quiet start ahead of what will be a busier week with a number of key releases on the horizon to the close the month down.

We have German CPI and the BoJ monetary decision while tensions around Greece's debt continue to pay out as Greece’s up and coming payments to creditors are keeping a dark shadow over the eurozone, while time for Greece is quite literally running out.

From a technical point of view, quoting Valeria Bednarik, chief analyst at FXStreet, "The pair presents a mild positive tone according to its 4 hours chart, as the technical indicators head higher in positive territory whilst the price holds above its 200 SMA, for the first time in month".