EUR/JPY drops to 177.90 as hawkish BoJ minutes bolster the Yen, pushing the pair below the 100-day SMA and fueling a bearish short-term technical trend.
The BoJ's September meeting minutes reinforced expectations for further interest rate hikes, strengthening the Japanese Yen against the Euro. EUR/JPY trades around 177.90, below the 178.00 level and under the 100-day SMA, with a bearish outlook. The technical break supports further downside.
Minutes from the Bank of Japan's September meeting reinforced expectations for further interest rate hikes, which supports the yen.
The cross is trading around 177.90, below the 178.00 level and under the 100-day simple moving average (SMA), indicating a bearish outlook.
The EUR/JPY cross retreated to 177.90 during Thursday's early European session, pressured by a strengthening Japanese Yen. The move follows the release of Bank of Japan September meeting minutes, which signaled a hawkish stance on future interest rate hikes. The pair now trades below the critical 178.00 level and the 100-day simple moving average, signaling a bearish technical outlook.
Minutes from the Bank of Japan's September meeting reinforced expectations for further interest rate hikes, which supports the yen.
The cross is trading around 177.90, below the 178.00 level and under the 100-day simple moving average (SMA), indicating a bearish outlook.