EUR/JPY Edges Lower Below 185.00, Bullish Bias Holds
The EUR/JPY cross trades near 184.95 in early European session, pressured by lower Eurozone inflation that reduces ECB rate hike expectations, though the near-term bullish bias remains intact.
The EUR/JPY cross edged lower below the 185.00 mark, trading around 184.95 during early European trading on Thursday.
The decline follows Eurozone inflation data that came in weaker than expected for June, easing pressure on the European Central Bank (ECB) to raise interest rates at its next meeting in July.
Despite the downside move, the near-term technical outlook for the pair remains bullish, suggesting that buyers may still be in control. Traders will watch for further ECB commentary and upcoming eurozone economic data for direction.
Source: FXStreet Forex News