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EUR/JPY chart - Trading View
EUR/JPY was trading 0.23% lower on the day at 130.25 at around 09:20 GMT. The pair is extending sideways for the 5th straight session above 55-EMA support.
Investors now await the European central bank policy decision for clues to determining further price action.
Mixed ECB-speak fails to provide clear direction, as traders await the central bank's monetary policy decision.
ECB’s Vasle said 'Still need `highly accommodative' monetary policy'. On the other side, Holzmann said 'Central bank could be tightening policy quicker than markets expect'.
Price action is inside the daily cloud, volatility is high. Momentum is with the bulls. Scope for upside continuation.
The pair finds strong support at 55-EMA at 130.06, break below will see drag till 200-DMA. Violation at 200-DMA negates any upside bias.
