What a Friday it’s been for the EUR/JPY pair! After a tumultuous week that saw it dip to three-week lows, the Euro has staged a remarkable comeback against a broadly weaker Japanese Yen.
The pair soared past the 183.60 mark today, hitting fresh session highs and captivating traders. This impressive surge comes after the pair touched 182.63 earlier in the session, leaving some to wonder if the downtrend would continue. Instead, bulls took firm control, successfully retracing most of the weekly losses in a powerful display of Euro strength.
This sharp appreciation is largely attributed to a generalized weakness permeating the Yen, which has allowed the Euro to gain significant ground. It’s a clear signal of the current sentiment in the currency markets, where the Euro appears to be finding renewed vigor against its Japanese counterpart.
As we head into the weekend, all eyes will be on whether this momentum can be sustained. Will the EUR/JPY continue its upward trajectory, or will we see another shift in sentiment? Only time will tell, but for now, it’s been an exciting end to the trading week!
Source: Original Article
