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EUR/JPY returns above 185.00 on Euro strength, sell Japan trade
Key Takeaways (30s Read)
The Euro strengthens against the Yen, pushing EUR/JPY above 185.10.
EUR/JPY has risen above 185.00 as the Euro strengthens against the Yen for the second consecutive day. In the early European session, it traded above 185.10, recovering from Monday’s low of 182.69. This rally appears to be linked to improving economic data from the Eurozone and an expansion of Japan's trade deficit, increasing trader expectations for a bullish Euro stance. The level of 185.00 might act as a psychological support, indicating potential stability for future price movements or further upside. If the Euro maintains its strength, EUR/JPY could aim for 185.50 or higher.
AI Analyst
AI Opinion
"The current market atmosphere is particularly intriguing given the ongoing strength of the Euro. Recent economic data suggests a recovery in the Eurozone, presenting a favorable opportunity for traders to buy the Euro. In contrast, Japan's widening trade deficit has contributed to weakness in the Yen, which further assists the Euro's ascent. In this context, EUR/JPY may continue its upward trend in the short term; however, traders should remain cautious as other macroeconomic factors could influence this dynamic."
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