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EUR/JPY edges slightly higher after ECB decision

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 21, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Córdoba) - EUR/JPY edged a tad higher, but remained well within its daily range, after the European Central Bank decided to keep rates unchanged at its January meeting.

    As widely expected, the ECB kept the interest rate on the main refinancing operations at 0.05%. The interest rates on the marginal lending facility and the deposit facility were also unchanged at 0.30% and -0.30% respectively. President Draghi will address the press at 13.30 GMT.

    EUR/JPY rose around 20 pips following the announcement but was capped by the 127.55 area. At time of writing, the pair is trading at 127.45, just a few pips above its opening price.

    EUR/JPY technical levels

    As for technical levels, next supports are seen at 127.00 (psychological level) and 126.62 (Jan 20 low). On the flip side, resistances could be found at 128.55 (Jan 19 high), 128.74 (Jan 14 high) and 129.08 (Jan 8 high/20-day SMA).
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