5 Mar 2015
EUR/JPY: Consolidating the downside and bearishness
FXStreet (Guatemala) - EUR/JPY is currently trading at 132.40 with a high of 133.60 and a low of 132.12.
EUR/JPY remains under pressure and this time the ECB's Drghi left the room with the euro down at fresh lows. However, in respect of the ECB meeting, Carsten Brzeski, analyst at ING bank explained that, overall, the ECB’s macro-economic assessment was much more upbeat than in previous months. "It looks as if at least the ECB is a strong believer in the positive economic impact of its own QE programme."
Technically, Karen Jones, chief analyst at Commerzbank explained that the EUR/JPY is expected to remain under pressure given that last week we saw failure ahead of the 38.2% retracement at 137.65 and well ahead of the 200 day moving average at 139.20.
EUR/JPY remains under pressure and this time the ECB's Drghi left the room with the euro down at fresh lows. However, in respect of the ECB meeting, Carsten Brzeski, analyst at ING bank explained that, overall, the ECB’s macro-economic assessment was much more upbeat than in previous months. "It looks as if at least the ECB is a strong believer in the positive economic impact of its own QE programme."
Technically, Karen Jones, chief analyst at Commerzbank explained that the EUR/JPY is expected to remain under pressure given that last week we saw failure ahead of the 38.2% retracement at 137.65 and well ahead of the 200 day moving average at 139.20.