BOJ Rate Hike Weighs on EUR/JPY as Yen Gains Traction
The Bank of Japan raised its short-term interest rate target to 1.25% from 1.00%, sparking a modest decline in the EUR/JPY pair to ¥179.97.
The narrower policy rate gap between the BOJ and the ECB supports the yen, reducing upward pressure on the cross.
Technical indicators show persistent seller control, with EUR/JPY trading below its primary moving averages and key Ichimoku levels.