- Yen strong, pushing EUR / JPY sharply lower on Thursday.
- Price back to 20-day average, threatens further declines.
EUR / JPY is having the steepest decline since mid-March. After testing the highs for the year on Wednesday above 130.50, the price is trading at 129.65, the lowest level since the end of March, and below the 20-day moving average.
The setback was triggered by the rise of the yen in the market, before a drop in the yields of Treasury bonds. The 10-year rate is falling and stands at 1.65%, still above the minimum of the week, and even far from the minimum of the day. Still, the decline in USD / JPY, which is approaching 109.00, continues to boost the yen on all fronts.
The minutes of the last meeting of the European Central Bank they had no impact on the euro. In the document, officials confirmed the need for a stimulating monetary policy and downplayed the recent rise in sovereign bond yields.
In minutes there will be data from the US on unemployment benefits and later Jerome Powell, the chairman of the Federal Reserve, will speak at an event organized by the International Monetary Fund.
Technical levels
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