EUR/JPY faces a 0.17% decline as Japan's core inflation rise hints at a possible end to negative interest rates.
Technical patterns, including a 'bearish harami', suggest further downside, with key levels to watch at 162.56 and 162.00.
Recovery above 163.00 could open the path to 164.00, contingent on overcoming resistance near the week's high at 163.72.
The EUR/JPY is dropping late in the North American session, set to register losses of around 0.17% on Tuesday. A rise in core inflation in Japan sparked speculation that the Bank of Japan (BoJ) could increase interest rates, ending the negative interest rate cycle. Therefore, the cross-pair trades at 163.22 after hitting a daily high of 163.52
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