The EUR/JPY is recovering from recent lows in the mid-129.00s.
Despite improved risk appetite, the dollar remains attractive.
The ECB has released its June meeting accounts.
The provided greenback note allows for additional advances in the single currency, while also bringing EUR/JPY back above the critical 130.00 level.
After bottoming out in the mid-129.00s on Thursday, EUR/JPY regained its footing, aided by the resumption of the offered bias surrounding the greenback, which allows for euro gains.
Furthermore, investors continue to favor the risk complex, which adds to the selling pressure on the Japanese safe haven. Furthermore, a further increase in US 10-year yields supports the latter.
Earlier this month, the ECB released its Accounts of the June meeting, highlighting that some members preferred a slower pace of asset purchases. Members were also concerned that higher market rates could lead to tighter financial conditions, therefore they agreed to examine the present temporary rise in inflation.
Later in the afternoon, the Federal Reserve will release its Monetary Policy Report in the United States.
The cross is currently up 0.45 percent at 130.51, with a break over 131.05 (100-day SMA) aiming for 132.34 (50-day SMA) and finally 132.69. (weekly high Jun.23). On the downside, 129.62 (monthly low Jul.8) provides immediate support, followed by 128.29 (weekly low Mar.24) and 128.15. (200-day SMA)./n
