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22 Jan 2015
EUR/JPY sees volatility after ECB rate decision
FXStreet (Mumbai) - The EUR/JPY pair swings sharply in the range of 136.90-136.30 after the European Central Bank (ECB) left all key policy rates unchanged.
The pair currently trades at 136.88 levels, after having dipped to 136.31 post rate decision. The ECB left the benchmark interest rate unchanged at 0.05%, while maintaining the deposit facility rate at -0.20%. The bank further stated that additional measures would be announced at ECB President Draghi’s press conference. Markets will be looking out for details of the sovereign QE program that is widely expected to be announced today at the press conference.
EUR/JPY Technical Levels
The immediate resistance is located at 137.29 levels, above which gains could be extended to 137.61 levels. Meanwhile, support is seen at 136.61 (5-DMA) and 136.31 levels.
The pair currently trades at 136.88 levels, after having dipped to 136.31 post rate decision. The ECB left the benchmark interest rate unchanged at 0.05%, while maintaining the deposit facility rate at -0.20%. The bank further stated that additional measures would be announced at ECB President Draghi’s press conference. Markets will be looking out for details of the sovereign QE program that is widely expected to be announced today at the press conference.
EUR/JPY Technical Levels
The immediate resistance is located at 137.29 levels, above which gains could be extended to 137.61 levels. Meanwhile, support is seen at 136.61 (5-DMA) and 136.31 levels.