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4 Jul 2013
EUR/JPY regains 129.00 level
FXstreet.com (New York) - The EUR/JPY technical cross has rebounded off earlier lows at 128.84 during US trading Thursday, surrounding updates from the ECB.
The ECB Governing Council decided to keep the main interest rate unchanged at 0.5% at their July monetary policy meeting – ECB president Mario Draghi suggested that inflation rates should stay below, but close to, 2% over the medium-term.
EUR/JPY still entrenched in negative territory
The EUR/JPY foreign exchange rate is currently retracing lower towards 128.99 in these moments, down -0.72% thus far Thursday. The Mataf.net analyst team cites the next short-term supportive measures at 128.79 (near session low), 127.64, and ultimately 126.64.
EUR/JPY finds traction at 50-day MA
According to the Technical Analyst Team at ICN.com, “The EUR/JPY is stuck between the 50-day MA, which is attempting to protect it from dropping further. The key 129.90 level has been broken on Wednesday, which is why we will maintain neutrality until breaching one of the main levels, representing the support at 129.20 and resistance at 129.90, is confirmed.”
The ECB Governing Council decided to keep the main interest rate unchanged at 0.5% at their July monetary policy meeting – ECB president Mario Draghi suggested that inflation rates should stay below, but close to, 2% over the medium-term.
EUR/JPY still entrenched in negative territory
The EUR/JPY foreign exchange rate is currently retracing lower towards 128.99 in these moments, down -0.72% thus far Thursday. The Mataf.net analyst team cites the next short-term supportive measures at 128.79 (near session low), 127.64, and ultimately 126.64.
EUR/JPY finds traction at 50-day MA
According to the Technical Analyst Team at ICN.com, “The EUR/JPY is stuck between the 50-day MA, which is attempting to protect it from dropping further. The key 129.90 level has been broken on Wednesday, which is why we will maintain neutrality until breaching one of the main levels, representing the support at 129.20 and resistance at 129.90, is confirmed.”