EUR/JPY approaches 115.00 after ECB leaves policy unchanged

The euro gathered fresh momentum and extended gains versus most competitors after the ECB decided to leave main policy rates and the QE program unchanged in September.

EUR/JPY advanced to a fresh daily high of 114.89 but lost steam ahead of the 115 mark. At time of writing, the pair is trading at 114.80, recording a % gain on Thursday.

The ECB left the interest rate on the main refinancing operations unchanged at 0.0% as expected and the asset purchases at €80 billion per month.  Attention now turns to the President of the ECB, Mario Draghi, who will comment on the considerations underlying these decisions.

EUR/JPY technical levels

If EUR/JPY breaks above 115.00, next resistances could be found at 115.67 (Sep 6 high), 116.00 (psychological level) and 116.13 (Sep 5 high). On the flip side, supports are seen at 114.05 (21-day SMA), 113.80 (Sep 7 low) and 113.14 (Aug 26 low).