Bearish
EUR/JPY weakens to near 179.10 amid BoJ rate hike expectations
EUR/JPY has declined to approximately 179.10, influenced by expectations of a 25 basis point rate hike by the Bank of Japan (BoJ) in their upcoming meeting. This anticipated tightening is strengthening the Japanese Yen against the Euro.
Key points
- BoJ expected to raise rates by 25 basis points next week, supporting JPY.
- EUR/JPY trading near 179.10, below the 100-day SMA, indicating bearish momentum.
- RSI around 28 suggests oversold conditions, potentially slowing downside pressure.
Sources
AI-generated from public news sources. Not financial advice.
