EUR/JPY recovers to 115.00 after BOJ rate decision

Offered tone around JPY gathered pace after the Bank of Japan (BOJ) kept policy tools unchanged as expected, courtesy of which the EUR/JPY cross jumped above 115.00 handle.

Supported by 114.80

The cross recovered from the low of 114.80 to trade around 115.05 levels at the time of writing. The Japanese central bank revised core CPI forecast lower from 1.7% to 1.5%. Other forecasts were largely held unchanged.

Meanwhile, the central bank also refrained from adding more monetary stimulus expected. It remains to be seen if the cross is able to extend its six-day winning streak today.

EUR/JPY Technical Levels

A break above 115.32 (Oct 28 high) would open doors for 116.28 (Oct 6 high), above which the cross could test supply around 117.00 (zero figure) levels. On the other hand, a breakdown of support at 114.80 (session low) would shift risk in favor of a drop to 114.54 (100-DMA) and 114.29 (50-DMA).

  TREND INDEX OB/OS INDEX VOLATILY INDEX
15M Bullish Neutral Shrinking
1H Bearish Neutral Low
4H Bullish Neutral Low
1D Bullish Neutral Low
1W Bullish Neutral Low

 

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