EURJPY Chart Technical Outlook

EURJPY Chart Technical Outlook picks up bids to renew intraday high, consolidates the biggest weekly loss in five.
Yields recover as fears of economic slowdown join US-China jitters.
Mixed German data and fears of Japan’s intervention weigh on prices.
Eurozone PPI, risk catalysts will be crucial for clear directions.
EUR/JPY prints mild gains around 157.35-40 as it pares the previous day’s losses heading into Wednesday’s European session. In doing so, the cross-currency pair traces the upbeat US Treasury bond yields amid fears of the economic slowdown and chatters surrounding Japan’s meddling to defend the Yen.

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