EUR/JPY Gains Momentum During Asian Session, Bullish Impulse

The EUR/JPY cross attracted buying interest during the Asian session on Tuesday, signaling the start of a fresh bullish impulse.

The Bank of Japan (BoJ) decided to leave interest rates unchanged at the conclusion of its June policy meeting and did not provide any indications about the timing of the next rate increase. Additionally, the central bank might have disappointed some market participants who were anticipating an announcement regarding a potential reduction in the monthly bond purchases. This decision, combined with a generally positive risk tone in the market, has undermined the safe-haven appeal of the Japanese Yen (JPY), providing a substantial lift to the EUR/JPY cross.

Given these developments, we are looking for a bullish setup in the EUR/JPY pair. The current market conditions, driven by the BoJ's stance and the favorable risk sentiment, suggest a potential continuation of the upward momentum for the EUR/JPY cross. Traders should watch for further bullish signals to confirm this trend and capitalize on the opportunity for gains.

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✅ I'm Closing the 50% Volume for this trade and remove TP. SL is moved to Entry.

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