EURJPY Chart Technical Outlook is pushing against 156.90 highs buoyed by hawkish ECB rhetoric Waiting for Bearish Correction. The Euro maintains its bullish trend intact against the yen, with the pair testing long-term highs, following hawkish comments by policymaker Kazaks as the market braces for the ECB Forum in Central Banking which will feature a number of press releases by key officials, including President Lagarde.
Kazaks suggested that the bank will likely keep hiking rates after the next meeting even if the Eurozone economy worsens, which has offered a fresh impulse to the Euro.
This comes after the Japanese Financial Minister Suzuki warned about an intervention to stem Yen’s weakness, earlier today, which has been practically ignored by the market.
The pair maintains a strong bullish bias, despite heavily overbought levels in the daily RSI calling for a corrective reversal.
Resistance levels ate 156.90 and 157.45. Supports are 156.05 and 155.35.