- Market focuses attention on ECB decision.
- EUR / JPY stops again at the 126.50 barrier and retreats.
The EUR / JPY is trading at 126.25 / 30, positive for the day and bouncing from a week’s lows to which it fell on Wednesday.. The cross remains in the recent range in the previous decision of the European Central Bank (ECB).
The focus is on the European Central Bank, It is expected to announce an increase in the amount and duration of the purchase program, and better conditions in long-term loans (TLTRO). In addition, new framework economic projections will be presented. The announcement will be at 12:45 GMT and then at 13:30 GMT Christine Lagarde will give a press conference. Hours of volatility are expected for the euro.
Barrier intact at 126.50
EUR / JPY gains continue to slow at 126.50. This level is key and if there is a consolidation above the euro it would be strengthened to extend the upward trend. In the opposite direction, between 125.70 and 125.90 there is a relevant support, which if it gives way could enable a bearish extension.
Technical levels
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