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Forex: USD/JPY erases gains around ECB publications

As the ECB were to reveal its decision on the interest rates for February, the USD/JPY quickly erased its gains, rolling down to the opening price (91.64) surrounding area. The pair has gone as high as 93.92 during the European morning.

ECB's main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will remain unchanged at 0.75%, 1.50% and 0.00% respectively. President Mario Draghi's conference is attracting much attention as the EUR exchange rate is being questioned by figures such as French President Hollande. Draghi should also talk about liquidity and LTRO repayments. The press conference is scheduled at 13:30 GMT.

“The USD/JPY currency pair continues moving upwards. I think today the price may consolidate for a while at the current levels and then continue growing up towards the target at 94.65”, wrote Roboforex.com analyst Igor Sayadov.

Forex: EUR/JPY eases to 127.00 after ECB rates, Draghi ahead

Having risen to as high as 127.47 on the European session on the back of expectations ahead of the ECB monetary policy decision and Draghi's press conference, the publication of the interest rates for February triggered a test of the 127.00 for support. Nevertheless, the EUR/JPY is trading +0.34% higher on the day.
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Forex Flash: Gilts target upside breakout – RBS

According to Technical Markets Strategist Dymtro Bondar at RBS, “The price of Gilts has been testing 20-day MA, however it didn’t manage to break this region and instead stayed in the range of 115.90 – 116.75, as momentum remained neutral (the 20/5/5/3 slow stochastic is slightly oversold, though that is not a strong indication of extreme conditions).”
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