EUR/JPY Faces Challenges: Bearish Sentiment Dominates
The EUR/JPY cross continues to struggle as it drops to a multi-month low, trading around 161.70 amid heightened volatility in the Asian market. Selling pressure has persisted for two consecutive days, pushing the currency pair down to its lowest level since early October. Although it managed a slight recovery, the overall sentiment remains bearish. Analysts predict that upcoming Eurozone PMIs could significantly impact market dynamics. Traders must keep a close watch on these developments to inform their strategies in this volatile environment.
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