Snapshot: EUR/JPY trades at 183.99, up 0.21% on the session, buoyed by persistent dovish undertones from the ECB despite recent inflation data meeting expectations. No specific Eurozone macro prints expected before the NY close, placing focus on overnight BoJ minutes.
- Watch for a break above intraday high of 184.16 to confirm bullish momentum.
- Risk lies in a hawkish surprise from the BoJ, especially if the MoF signals discomfort with current Yen levels.
Bias into NY: Bullish, with a target of 184.50 as the ECB’s mild easing bias and comments from De Guindos contrasting with the BoJ’s slow normalisation, overshadowing slight weakness in the DXY at 97.69.