EUR/JPY reaches above 144.00

Source: Dukascopy Bank SA


The surge of the EUR/JPY currency pair has reached a new high, as the pair has reached above 144.00. However, the event was followed by a consolidating decline to the 143.50 level.

On Thursday, at 12:15 GMT the European Central Bank was set to make a rate statement and a follow up conference was scheduled for 12:45 GMT. In general, the pair is set to react to the news not technical levels.

If the ECB rate hike causes a move above the 144.41 level, the rate would face no technical resistance, as at that level the weekly R3 simple pivot point was located at. On the other hand, a decline might pause at 142.50, where the 50-hour SMA and the weekly S2 simple pivot point are located at.
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