Snapshot: EUR/JPY currently trades at 185.21, up 0.15% on the session, buoyed by the steady hand at the Bank of Japan and the modest easing bias still present at the ECB. Today’s driver is the relative central bank policy stances.
- Watch 185.50 – a break could see a run towards recent highs.
- Risk: A hawkish surprise from BOJ Gov Ueda’s speech at 09:00 JST.
Bias into NY: Bullish. The dovish undertones from the ECB, evidenced by Lane and Schnabel’s recent comments, combined with the BoJ’s current hold, support further upside in EUR/JPY. A sustained break above 185.36 reinforces this bias.