EUR/JPY: ECB weighs in the cross below 130.00 – FXStreet

By FXStreet FXStreet (Guatemala) – Valeria Bednarik, chief analyst at FXStreet explaine dthat the EUR/JPY pair closes in the red for a third day in-a-row-, but within the lower half of its Wednesday range, and a few pips above the 130.00 level.

Key Quotes:

“The Japanese yen held strong, despite European stocks edged sharply higher, with the EUR being weighed by rumors that during the next week meeting, the ECB can cut its deposit rate further into negative territory.

The 4 hours chart for the EUR/JPY pair maintains the risk towards the downside, as the price is developing well below the 100 and 200 SMA’s, while the technical indicators remain below their mid-lines, although lacking directional strength.

The weekly low was set at 129.76, which means that a downward acceleration through 129.80 should lead to further declines, with the market pointing then for a test of the 129.00 region.”
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Source:: FX Street