EUR/JPY waits for ECB

Note: This section contains information in English only.
Source: Dukascopy Bank SA


During the second part of Wednesday's trading, the EUR/JPY pair pierced the lower trend line of the channel up pattern. In general, the surge is over due to a simple reason. The European Central Bank is set to announced its future monetary policy at 12:15 GMT on Thursday. The event is set to cause a major adjustment of the Euro value, as the central bank is set to do a rate hike.

In general, technical analysis will be not useful during the event and in the aftermath of it. However, note that there is a resistance zone located at the 141.50/142.00 zone.

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Thu, 21 Jul 2022 11:13:56 GMT

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