Overall, EUR/JPY is trending downwards. Recently, EUR/JPY broke the resistance zone of 127.500.
The European Central Bank (ECB) will be announcing their monetary policy decision later at 2045 (GMT+8). The central bank is expected to keep monetary policy unchanged while announcing that bond-buying under the Pandemic Emergency Purchase Programme will end this month and bond-buying under the Asset Purchase Programme (APP) will increase. The ECB may also highlight that the recent Russia-Ukraine war has added a high level of uncertainty into the economy. Hence, bond-buying under the APP may be reduced at a slower rate than the previously announced €10billion.
A press conference will also be held at 2130 (GMT+8). During this time, volatility is expected in EUR.
EUR/JPY’s next support zone is at 127.500 and the next resistance zone is at 128.500.
Look for short-term buying opportunities of EUR/JPY.
The European Central Bank (ECB) will be announcing their monetary policy decision later at 2045 (GMT+8). The central bank is expected to keep monetary policy unchanged while announcing that bond-buying under the Pandemic Emergency Purchase Programme will end this month and bond-buying under the Asset Purchase Programme (APP) will increase. The ECB may also highlight that the recent Russia-Ukraine war has added a high level of uncertainty into the economy. Hence, bond-buying under the APP may be reduced at a slower rate than the previously announced €10billion.
A press conference will also be held at 2130 (GMT+8). During this time, volatility is expected in EUR.
EUR/JPY’s next support zone is at 127.500 and the next resistance zone is at 128.500.
Look for short-term buying opportunities of EUR/JPY.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Join my mailing list jindaotai.com/joinme
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.