The euro rose against the yen toward ¥176.10 in Asian trading Friday after touching a reported 12-month low near ¥175.20, FXStreet reported, as Reuters cited yen demand amid market risk concerns.
The Bank of Japan’s Oct. 23 foreign-exchange table put the pair at ¥175.64–¥175.68 at 8 p.m. ET Thursday (00:00 UTC Friday), then at ¥175.76–¥175.80 at 4 a.m. ET Friday (08:00 UTC). Reuters later placed the euro at ¥175.42, down 0.24% when it reported the rate and at its lowest level since October 2025. The data points came from separate checks through the day.
Reuters tied yen buying to investors seeking safer assets while equity markets were fragile and concerns about France’s fiscal outlook persisted. The outlet said the premium on French government bonds had reached its highest level since the 2011 euro-area sovereign-debt crisis. Lee Hardman, senior currency analyst at MUFG, told Reuters that a risk-averse tone had helped keep the yen firm late in the week.
September data from the Statistics Bureau of Japan showed consumer prices excluding fresh food rose 2.1% from a year earlier, up from 1.7% in August. The measure excluding fresh food and energy increased 2.4% year over year.
FXStreet’s chart analysis placed EUR/JPY in a descending channel. It listed a 14-day relative strength index (RSI) reading of 34.76, a nine-day exponential moving average (EMA) at ¥176.98 and a 50-day EMA at ¥179.54. FXStreet said AI assistance was used in preparing the analysis; these are its chart readings, separate from the Bank of Japan’s rate observations. EconoTimes previously covered FXStreet’s descending-channel assessment when the pair was near ¥177.70.
The Bank of Japan’s next policy meeting is scheduled for Oct. 29-30, with its Outlook Report due Oct. 30. The European Central Bank meets Oct. 28-29 and has scheduled its decision for 9:15 a.m. ET (13:15 UTC) Oct. 29.
