- EUR/JPY is reporting losses for the third straight day and is currently trading at the 10-day moving average support.
- Bank of Japan’s (BOJ) Harada said more easing policy given the recent data but failed to lift EUR/JPY cross.
EUR/JPY is trading in the red at the 10-day MA support of 126.24 at press time.
Notably, the currency pair is reporting losses for the third straight day, despite dovish comments from BOJ’s Harada.
The policymaker was out on the wires earlier today, stating that the monetary policy will remain easy and more stimulus could be in the offing given the recent moderation in the economy.
Harada also expressed concerns about the potential negative impact of the impending sales tax hike.
Harada’s dovish talk has not had any bullish impact on the EUR/JPY. That said, the ascending 10-day MA is capping the downside at press time and a strong bounce from that MA line could happen if the equities put on a good show in Europe.
EUR/JPY Technical Levels