EUR/JPY loses further momentum and slips back to 124.50. The cross loses the grip despite the prevailing risk-on sentiment. US FOMC event will be the salient event later in the NA session. The firmer note around the safe haven Japanese yen has dragged EUR/JPY to the mid-124.00s on Wednesday, where it appears to have met some decent contention so far. EUR/JPY now looks to the Fed The sell-off in the dollar coupled with declining yields of the key US 10-year note have been sustaining the improvement in the Japanese yen and forcing EUR/JPY to extend the leg lower further south of 125.00 the figure on Wednesday. The cross is therefore losing ground for the third consecutive session so far in spite of the markets’ bias towards the risk complex. Earlier in the euro docket, the trade surplus in the euro bloc widened to nearly €28 billion during July. Across the pond, Retail Sales will grab all the attention in the first turn ahead of the key FOMC meeting scheduled for later in the NA session. In Japan, the BoJ will hold its monetary policy meeting early on Thursday with consensus practically ruling out any modification of the current monetary stance as well as the bond-purchasing programme. EUR/JPY relevant levels At the moment the cross is losing 0.14% at 124.73 and a drop below 124.41 (weekly low Sep.9) would expose 124.28 (weekly low Aug.11) and finally 122.87 (monthly high Jan.16). On the upside, the next up barrier is located at 126.46 (weekly high Sep.10) seconded by 127.07 (2020 high Sep.1) amd then 127.50 (2019 high Mar.1). FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Breaking: US Retail Sales in August increase by 0.6% vs. 1% expected FX Street 2 years EUR/JPY loses further momentum and slips back to 124.50. The cross loses the grip despite the prevailing risk-on sentiment. US FOMC event will be the salient event later in the NA session. The firmer note around the safe haven Japanese yen has dragged EUR/JPY to the mid-124.00s on Wednesday, where it appears to have met some decent contention so far. EUR/JPY now looks to the Fed The sell-off in the dollar coupled with declining yields of the key US 10-year note have been sustaining the improvement in the Japanese yen and forcing EUR/JPY to extend the leg lower further south… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.