EUR/JPY climbs to 177.30 as the Japanese Yen weakens on a dovish Bank of Japan rate outlook, though the pair struggles to reclaim its 100-day moving average.
EUR/JPY trades higher around 177.30 but remains below the 100-day SMA, with a cautious BoJ rate outlook pressuring the JPY.
The EUR/JPY pair trades higher at 177.30 during early European hours as the Japanese Yen faces selling pressure. A cautious interest rate outlook from the Bank of Japan continues to undermine the currency, despite the cross remaining below its 100-day moving average.
The Yen is under pressure primarily due to the Bank of Japan's cautious outlook regarding interest rate adjustments, which contrasts with broader market expectations.