EUR/JPY falls to 160.86, reacting to rumors of Bank of Japan possibly ending negative interest rates.
Technical analysis indicates potential for further pullback if pair closes below the 161.31 Kijun-Sen level.
Recovery above 161.00 could signal a rebound towards the 162.00 mark, with eyes on the March 7 high.
The EUR/JPY dives for the second consecutive day, losing 0.64% in early trading during the North American session. Rumors that the Bank of Japan (BoJ) could end negative rates are growing, hence sponsoring a leg-up in the Japanese Yen (JPY) against most G7 currencies. At the time of writing, the pair exchanges hands at 160.86.
Edited 11 Mar 2024, 21:20
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