EURJPY higher on Draghi's comments

• EUR/JPY up 50 pips on ECB.
• ECB rates stay unchanged.

The EUR/JPY is trading at around 131.76 up 0.08% on the day. The pair rose more than 50 pips after Draghi announces that key interest rates stay unchanged. Draghi went further by saying that he is confident in the Eurozone’s economy even amid populism and trade wars. At this time of writing Draghi is now delivering a speech live saying: “The key ECB interest rates are set to remain at their present levels for an extended period of time, and well past the horizon of the net asset purchases.”

Here is the ECB timeline for 2018-2019: On January 1, 2018, the ECB Asset Purchase Program was cut in half from 60bn to 30bn EUR per month until September 2018, on January 8, the ECB removes dovish forward guidance. In the second quarter of 2019, the central bank plans to start hiking rates.

The EUR/JPY as again rebounded from its 200 DMA finding resistance just 5 pips shy of the 132.00 figure breaking Wednesday's high. Next resistance for bulls is rice in at the 132.00-132.10  area with the R1 pivot. Next scaling point is seen at 132.40 R2 pivot. To the downside, level to watch intraday are the 131.60 level daily pivot and to the downside the 130.77 R2 pivot. 

EUR/JPY 15-minutes chart