EUR/JPY gathers extra pace and leaves behind the 126.00 area. The sell-off in the dollar boosts the momentum around EUR. Markets’ attention is focused on US Initial Claims later in the session. The upside momentum in the European currency is lending extra wings to EUR/JPY, pushing it to fresh highs in the 126.70/75 band, levels last seen in April 2019. EUR/JPY stronger on risk trends EUR/JPY is posting gains for the third straight session on Thursday, gaining already more than 2% since weekly lows in the 124.30 zone recorded on Tuesday. Furthermore, the cross navigates its fifth consecutive week in the positive territory, leaving behind the key 200-week SMA near 124.90. The persistent weak note in the greenback in combination with the somewhat steady performance of the Japanese yen are bolstering the demand for riskier assets and underpin at the same time the upside momentum in the cross. In the euro docket, German final CPI showed prices contracted 0.5% MoM and 0.1% on a year to July. Later in the session, the greenback is expected to remain under the microscope in light of the publication of the weekly Initial Claims. EUR/JPY relevant levels At the moment the cross is gaining 0.53% at 126.64 and faces the next up barrier at 126.75 (2020 high Aug.13) followed by 126.80 (monthly high Apr.17 2019) and finally 127.50 (2019 high Mar.1). On the flip side, a drop below 122.87 (monthly high Jan.16) would expose 121.14 (monthly high Mar.25) and then 120.18 (200-day SMA). FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next US Pres. Trump: Coronavirus aid talks being held up over post office money FX Street 2 years EUR/JPY gathers extra pace and leaves behind the 126.00 area. The sell-off in the dollar boosts the momentum around EUR. Markets’ attention is focused on US Initial Claims later in the session. The upside momentum in the European currency is lending extra wings to EUR/JPY, pushing it to fresh highs in the 126.70/75 band, levels last seen in April 2019. EUR/JPY stronger on risk trends EUR/JPY is posting gains for the third straight session on Thursday, gaining already more than 2% since weekly lows in the 124.30 zone recorded on Tuesday. Furthermore, the cross navigates its fifth consecutive week in… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.