EUR/JPY surge reaches 128.50 mark

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Source: Dukascopy Bank SA


The Euro continued to recover against all other currencies prior to the announcement of monetary policy by the European Central Bank on Thursday. The fundamental surge ignored technical levels like the 200-hour SMA, the weekly simple pivot point and the trend line, which connects the February high levels. Prior to the announcement of the bank, the rate stopped and started to trade almost flat below the 128.50 mark.

In regards to the future of the pair, wait for the ECB statement and press conference at 12:45 GMT and 13:30 GMT. Afterwards, as the pair takes in the fundamental news and adjusts to the new policy or a no changes scenario, observe the formation of new direction. Until then, be careful with the use of technical analysis.

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Thu, 10 Mar 2022 11:15:01 GMT

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