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18 Dec 2013
EUR/JPY jumps after FED's decision, eyes 143.00
FXstreet.com (Córdoba) - The EUR/JPY fell toward 141.00 minutes after the Federal Reserve announced its decision on monetary policy but rebounded sharply, breaking above 142.00. The Euro peaked at 142.70 so far hitting the highest price since last Friday and remains near 143.00.
The FED announced it will reduced its purchase program by $10 billion, weakening the Yen across the board. The EUR/JPY did a bounce of 170 pips from the lows despite the decline of the EUR/USD below 1.3700.
EUR/JPY technical outlook
In the short-term the pair looks with bullish momentum. Valeria Bednarik, Chief Analyst at FXstreet.com points out that the four hour charts “shows a more neutral technical stance, although indicators stand in positive territory, favoring a test of recent highs around 142.80, and even a break above 143.00 figure for the upcoming sessions.”
The FED announced it will reduced its purchase program by $10 billion, weakening the Yen across the board. The EUR/JPY did a bounce of 170 pips from the lows despite the decline of the EUR/USD below 1.3700.
EUR/JPY technical outlook
In the short-term the pair looks with bullish momentum. Valeria Bednarik, Chief Analyst at FXstreet.com points out that the four hour charts “shows a more neutral technical stance, although indicators stand in positive territory, favoring a test of recent highs around 142.80, and even a break above 143.00 figure for the upcoming sessions.”