The euro fell against the yen in the European Central Bank’s latest daily fixing, while Bank of Japan minutes published Nov. 5 showed policymakers discussing further rate increases as they assessed economic activity, prices and financial conditions.
The ECB set its reference rate at 177.85 yen per euro on Nov. 5, down 0.45 yen from 178.30 the previous day, a decline of about 0.25%. The ECB describes the fixing as an indicative benchmark rather than a price intended for transactions.
The BOJ’s daily foreign-exchange table listed EUR/JPY spot quotes of 177.89–177.93 earlier in the day and 177.83–177.87 later. Those readings were close to the ECB fixing, though they are separate reference points from the two institutions.
Minutes from the BOJ’s Sept. 17-18 meeting show seven board members backed setting the overnight call rate near 1.25%, while two opposed. That level took effect Sept. 24. The minutes also record views favoring additional rate increases as the bank weighed activity, prices and financial conditions. They document the September decision and discussion; they do not announce another rate change.
Reuters reported broad yen strength after the minutes were released, as expectations for more rate increases gained support.
FXStreet’s daily chart analysis placed EUR/JPY inside a descending channel and below its 50-day exponential moving average (EMA) at 178.69. It put the nine-day EMA at 177.08, with the pair above that level, and the channel’s upper boundary near 178.50. The outlet’s 14-day relative strength index (RSI), a momentum measure, was about 53, leaving its chart signals mixed. The latest readings update EconoTimes’ earlier report on EUR/JPY trading within a descending channel, which cited different moving-average and RSI levels.
The BOJ’s next scheduled policy meeting is Dec. 17-18.
