The EUR/JPY cross weakens near 172.45 on Wednesday during the early European session.
EUR/JPY drifts lower around 172.45 in Wednesday’s Asian session. The cross maintains the negative stance below the 100-period EMA on the 4-hour chart, with bearish RSI indicators. The first upside barrier will emerge at 172.75; the initial support level is located at 171.82. The cross edges lower as traders turn cautious ahead of the release of the Eurozone Harmonized Index of Consumer Prices for June.
The ECB’s primary mandate is to maintain price stability, which means either controlling inflation or stimulating growth. Its primary tool is the raising or lowering of interest rates. Relatively high interest rates – or the expectation of higher rates – will usually benefit the Euro and vice versa. The ECB Governing Council makes monetary policy decisions at meetings held eight times a year.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
EUR/JPY Price Analysis: Downward pressured, clings to 172.00The EUR/JPY remains under pressure for the third straight day after Japanese authorities intervened in the FX space last Thursday, although policymakers have not confirmed this.
Read more »
EUR/JPY Price Analysis: Extends gains eye YTD high above 171.00The EUR/JPY extended its gains for the sixth straight day on Monday and is up 0.24%.
Read more »
EUR/JPY Price Analysis: Holds position around 174.50 with an overbought conditionEUR/JPY halts its three-day losing streak, trading around 174.30 during the European hours on Tuesday.
Read more »
EUR/JPY Price Analysis: Holds position around 174.50 with an overbought conditionEUR/JPY halts its three-day losing streak, trading around 174.30 during the European hours on Tuesday.
Read more »
Giant Medieval Catapult Shots Discovered From 172-Day Siege of CastleThe largest of the newly discovered catapult projectiles used in the 1266 siege weighs around 230 pounds.
Read more »
EUR/JPY hovers near multi-year highs 171.50, Japan’s intervention fears intensifyThe EUR/JPY trades close to multi-year highs around 171.50 in Wednesday’s American session.
Read more »