- Euro rises against the pound and the yen ahead of the ECB meeting.
- EUR / JPY remains in the range of the last few days, without moving away from 130.00.
The EUR / JPY rebounded from the 129.85 area and rose to 130.22, marking a new high for the day. It remains close to the maximum, in the run-up to the European Central Bank meeting. The euro also advances against the pound.
The ECB is expected to keep the interest rate and purchase program unchanged. Big announcements are not expected. The words of the statement and those of Lagarde later, will be the subject of analysis and may have an influence on the euro. In the US, data will be published on unemployment benefit claims and the sale of existing homes.
Follow the range
The EUR / JPY managed to recover on Wednesday and close the day above the 20-day moving average, which is passing 130.00, and far from the lows. The cross continues without a clear direction, moving in the lateral range, between 129.70 and 130.60.
On Monday the euro jumped to levels close to 131.00, but this was then followed by a significant pullback, confirming the sideways bias. A close below 129.60 would point to more losses, while above 130.60, to more rises.
Technical levels
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