#EURJPY @ 158.353 juggles around 158.50 as the ECB kept its refinancing operations rate unchanged at 4.5%.
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- EUR/JPY juggles around 158.50 as the ECB kept its refinancing operations rate unchanged at 4.5%.
The pair currently trades last at 158.353.
The previous day high was 159.08 while the previous day low was 158.41. The daily 38.2% Fib levels comes at 158.66, expected to provide resistance. Similarly, the daily 61.8% fib level is at 158.82, expected to provide resistance.
The EUR/JPY pair remains unchanged near 158.50 after the announcement of the European Central Bank (ECB) monetary policy. ECB President Christine Lagarde announced that policymakers decided to keep the rate of refinancing operations unchanged at 4.5%.
The ECB has also kept the rate on deposit facility steady at 4%. An unchanged interest rate decision from the ECB was widely anticipated as the Eurozone economy is struggling for a firm footing amid geopolitical tensions and a soft demand outlook.
The business activities in Eurozone have been dampened due to soft demand by households as higher price pressures have squeezed their real income. The economic activities in the Eurozone economy have been contracting for a significant period as firms are operating at lower capacity due to weak demand.
Meanwhile, risks of higher energy prices outlook have dented market sentiment. Deepening Middle East tensions amid conflicts between Israel and Palestine are expected to disrupt the oil supply chain, which will raise energy prices in the shared continent. This could elevate headline inflation expectations.
On the Japanese Yen front, investors expect that a spike move in the EUR/JPY pair in the early London session was the stealth intervention in the FX domain. An intervention from the Bank of Japan (BoJ) or Japan’s Ministry of Finance (MoF) was expected as the Japanese yen depreciated to 150.00 against the US Dollar.
Technical Levels: Supports and Resistances
EURJPY currently trading at 158.55 at the time of writing. Pair opened at 158.64 and is trading with a change of -0.06 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 158.55 |
| 1 | Today Daily Change | -0.09 |
| 2 | Today Daily Change % | -0.06 |
| 3 | Today daily open | 158.64 |
The pair remains strongly bullish on the daily timeframe. It trades above its 20 SMA @ 157.84, 50 SMA 157.94, 100 SMA @ 156.91 and 200 SMA @ 151.04.
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 157.84 |
| 1 | Daily SMA50 | 157.94 |
| 2 | Daily SMA100 | 156.91 |
| 3 | Daily SMA200 | 151.04 |
The previous day high was 159.08 while the previous day low was 158.41. The daily 38.2% Fib levels comes at 158.66, expected to provide resistance. Similarly, the daily 61.8% fib level is at 158.82, expected to provide resistance.
Note the levels of interest below:
- Pivot support is noted at 158.34, 158.04, 157.67
- Pivot resistance is noted at 159.01, 159.38, 159.68
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 159.08 |
| Previous Daily Low | 158.41 |
| Previous Weekly High | 158.93 |
| Previous Weekly Low | 157.06 |
| Previous Monthly High | 158.66 |
| Previous Monthly Low | 156.58 |
| Daily Fibonacci 38.2% | 158.66 |
| Daily Fibonacci 61.8% | 158.82 |
| Daily Pivot Point S1 | 158.34 |
| Daily Pivot Point S2 | 158.04 |
| Daily Pivot Point S3 | 157.67 |
| Daily Pivot Point R1 | 159.01 |
| Daily Pivot Point R2 | 159.38 |
| Daily Pivot Point R3 | 159.68 |
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