Japan’s Sept. CPI excluding fresh food rose 2.1%, the Statistics Bureau said, above the Bank of Japan (BOJ)’s 2% target; FXStreet’s 11:12 p.m. ET Sunday update (03:12 UTC Monday) put EUR/JPY below 176.
FXStreet placed the cross near 175.90 after it opened higher. A delayed MarketScreener quote showed 175.871 at 10:59 p.m. ET Sunday (02:59:48 UTC Monday), from a separate feed and earlier snapshot.
The European Central Bank (ECB) set its Oct. 23 reference rate at ¥175.51 per euro. The ECB says its daily rate provides information for comparison and is not a quote for transactions.
The Statistics Bureau also reported that September’s index excluding both fresh food and energy rose 2.4% from a year earlier.
FXStreet’s daily chart assessment characterized the technical picture as bearish, citing a 14-day relative strength index near 33 and the pair’s position below its nine-day and 50-day exponential moving averages. The outlet listed 176.69 as resistance at the nine-day average. It identified ¥175.10 as the Oct. 23 12-month low and about ¥175.00 as the descending channel’s lower boundary. FXStreet said AI assistance was used to prepare the analysis.
MUFG senior currency analyst Lee Hardman wrote in an Oct. 23 note that risk-off conditions had supported the yen late in the week. He attributed the move to “more risk-off trading conditions.”
The BOJ’s next policy meeting is scheduled for Oct. 29-30. The bank lists the release times for its Oct. 30 policy statement and the October Outlook Report’s “The Bank’s View” as undecided. The full report text is scheduled for midnight ET Nov. 2 (05:00 UTC), equivalent to 2 p.m. Japan time.
