FXStreet (Guatemala) - EUR/JPY is currently trading at 134.09 with a high of 135.25 and a low of 128.86 overnight. EUR/JPY has been better bid on the back of the ECB today. Draghi disappointed the euro shorts on a massive scale and the cross rallied and rallied and rallied again clearing over 4 big figures overnight in the euros biggest accent in 6 years. First of all, the deposit rate was only cut to -0.30% and by just 10 basis points, the lower end of the scale of expectations, and the euro shot higher. The general region of a €10-20bn increase in QE was expected and the euro was at 1.07 leading into the presser and announcements. The big shock, however, came when Draghi did not add extra QE and only moved the end date of the current programme. The ECB was bullish on the economy on raising its forecast of 2015 GDP to 1.5% from 1.4%. Inflation, however, for 2016 was lowered from 1.1% prior to 1.0% and 2017 has also been lowered from 1.7% by 0.1%. EUR/JPY levels Technically, EUR/JPY is now consolidated testing the daily 200 SMA at 134.08 and is entering neutral territory after a bearish time from end of Oct business to the minor recovery at the end of Nov's business at lows of 129.66. The RSI (14) is in overbought territory and a period of consolidation might be expected in the lead into Nonfarm Payrolls. For more information, read our latest forex news.