EUR/JPY chart - Trading View
EUR/JPY grinds higher for the 3rd straight session, was trading 0.06% higher on the day at 130.90 at around 07:35 GMT.
The European Central Bank (ECB) planned to adopt a new strategy in its next meeting on July 22nd.
The central bank announced last week that it would tolerate inflation higher than its 2% goal.
Analysts expect the ECB will start tapering its pandemic-related asset purchases after its September meeting and stop buying them by the end of March.
The single currency gains on optimism after ECB hawkish outlook. Markets await German Harmonised Index of Consumer prices for impetus.
Technical bias is turning bullish. Price action is pivotal at 200H MA, decisive break above will buoy prices.
Momentum indicators are turning. RSI is now biased higher. Stochs are on verge of rollover from oversold levels.
Bullish divergence on RSI and Stochs on the daily charts adds to the upside bias. Scope for test of 21-EMA at 131.47.
