EUR/JPY Stays Above 172.00 With Bullish Hints
The EUR/JPY pair stayed a little above 172.00 on Tuesday. The price did not move much, but the overall trend still looks positive.
The Japanese Yen is under pressure because the Bank of Japan has not given clear signals about raising interest rates. When the Yen is weak, the Euro gets an advantage.
At the same time, hopes of peace between Russia and Ukraine are making investors less interested in the safe-haven Yen. Instead, they are more open to riskier assets, which supports the Euro.
On the Euro side, a new trade deal with the US has reduced fears about tariffs. Also, the European Central Bank (ECB) is expected to keep interest rates steady for now. Both of these factors give the Euro more strength.
Traders are now waiting for key updates. ECB President Christine Lagarde will speak on Wednesday, and fresh PMI data will come on Thursday. These events could decide the next move for EUR/JPY.
Impact:
EUR/JPY could rise further if Lagarde sounds confident or if PMI data is strong. But weak numbers or dovish comments may slow down the pair.
