Investing.com - The euro strengthened to four-year highs against the yen on Friday after German business confidence data beat expectations and sparked demand for the single currency.
In U.S. trading on Friday, EUR/JPY was up 0.61% at 137.20, up from a low of 136.02 and off a high of 137.27.
The pair sought to test support at 134.12, Wednesday's low, and resistance at 138.49, the high from Oct. 29, 2009.
The euro advanced after the Ifo Institute for Economic Research reported earlier that Germany's business climate index rose to a 19-month high of 109.3 in November from 107.4 in October.
Analysts were expecting the index to rise to 107.7 this month, and the better-than-expected reading sparked hopes for a more robust European recovery.
Also in Germany, data revealed the country's gross domestic product expanded 0.3% in the third quarter, in line with expectations.
The euro saw added demand after European Central Bank President Mario Draghi on Thursday downplayed recent media reports that monetary authorities were considering cutting deposit rates into negative territory.
The yen, meanwhile, came under pressure after Bank of Japan Governor Haruhiko Kuroda said he will do everything possible to restrict an increase in long-term yields.
The euro, meanwhile, was up against the pound and up against the U.S. dollar, with EUR/GBP trading up 0.44% at 0.8358 and EUR/USD trading up 0.52% at 1.3550.
In U.S. trading on Friday, EUR/JPY was up 0.61% at 137.20, up from a low of 136.02 and off a high of 137.27.
The pair sought to test support at 134.12, Wednesday's low, and resistance at 138.49, the high from Oct. 29, 2009.
The euro advanced after the Ifo Institute for Economic Research reported earlier that Germany's business climate index rose to a 19-month high of 109.3 in November from 107.4 in October.
Analysts were expecting the index to rise to 107.7 this month, and the better-than-expected reading sparked hopes for a more robust European recovery.
Also in Germany, data revealed the country's gross domestic product expanded 0.3% in the third quarter, in line with expectations.
The euro saw added demand after European Central Bank President Mario Draghi on Thursday downplayed recent media reports that monetary authorities were considering cutting deposit rates into negative territory.
The yen, meanwhile, came under pressure after Bank of Japan Governor Haruhiko Kuroda said he will do everything possible to restrict an increase in long-term yields.
The euro, meanwhile, was up against the pound and up against the U.S. dollar, with EUR/GBP trading up 0.44% at 0.8358 and EUR/USD trading up 0.52% at 1.3550.