Snapshot: EUR/JPY is trading at 184.38, up 0.26% on the session, driven primarily by the diverging policy outlooks of the ECB and BoJ. Lagarde’s scheduled speech at 09:00 CET will be closely monitored for any hints of further easing.
- A break above intraday highs of 184.50 could signal further upside potential.
- Watch for any headlines regarding intervention from the BoJ if Yen weakness persists.
Bias into NY: We favour further upside in EUR/JPY, targeting 185.00, as the ECB maintains a mild easing bias while the BoJ signals a slow normalisation path. Broad dollar weakness, with the DXY at 97.77, adds to the momentum.