EUR/JPY Breaks Above ¥180, Eyes ¥182 Level as Interest Rate Differential Expands

The EUR/JPY currency pair is showing signs of life as it breaks above the ¥180 level, driven by the widening interest rate differential in favor of the euro. The Japanese yen has suffered due to its limited ability to raise interest rates, with only 7 out of 9 central bankers voting for the latest hike.

The market's attention is now focused on the ¥182 level, which could be a crucial breakout point if it is breached. The death cross, where the 50-day EMA breaks below the 200-day EMA, has kicked in, but this is considered a late signal.

With the European Central Bank (ECB) expected to continue tightening rates, the interest rate differential between the euro and yen is likely to expand further. This makes the EUR/JPY pair increasingly bullish for buyers.