The EUR/JPY remains under pressure for the third straight day after Japanese authorities intervened in the FX space last Thursday, although policymakers have not confirmed this.
EUR/JPY edges down 0.03%, pressured by suspected last week FX intervention. Technical outlook remains upward as price action stays above the Ichimoku Cloud. Key supports at 172.00, 171.58, and 170.56; resistance levels at 172.45 and 173.43. The cross-pair trades at 172.12, down 0.03%.
Relatively high interest rates – or the expectation of higher rates – will usually benefit the Euro and vice versa. The ECB Governing Council makes monetary policy decisions at meetings held eight times a year. Decisions are made by heads of the Eurozone national banks and six permanent members, including the President of the ECB, Christine Lagarde.
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