Snapshot: EUR/JPY trades at 183.61, down 0.55% today. ECB’s mild easing bias, reinforced by recent wage tracker data and Cipollone’s energy shock comments, weighs on the Euro. All eyes now on US data releases.
- Watch for a break of 182.06, intraday low.
- Risk: BoJ intervention if Yen weakness intensifies.
Bias into NY: Downside pressure likely to persist as ECB’s dovish stance contrasts with BoJ’s slow normalisation bias, targeting a retest of the daily low at 182.06. Any downside acceleration will be amplified by US yields failing to sustain strength.