The EUR/JPY currency pair retraced its recent declines from the previous session, trading around 169.40 in early European hours on Wednesday. This currency cross has maintained its position near 169.86, the highest it has reached since July 2024, recorded on June 30, 2025. Upcoming Eurozone unemployment rate data is highly anticipated and could influence trading dynamics in this cross. Traders should closely watch these figures to assess potential volatility in the forex market.