FxWirePro: USD/JPY edges slightly higher from 5-week lows, yen offered after BoJ cuts Japan's growth forecasts
FxWirePro: EUR/JPY surges past 122 handle, euro buoyed on ECB stimulus and economic recovery hopes
EUR/JPY chart - Trading View
EUR/JPY is extending bull run for the 8th straight session, surges past 122 handle.
The pair is set to close in the green for the 4th straight week. Scope for further upside.
Japanese yen is being hammered across the board on improving risk appetite amid recovery hopes as economies exit lockdowns.
Euro bulls cheered news reports suggesting that the European Central Bank is ready to scale up its coronavirus assets purchase program.
The ECB is likely to raise the 750-billion-euro program, adding another 500 billion, to support the COVID-19 worst-hit countries and sectors.
EUR/JPY eyes 2020 high at 122.85. Further upside could see test of 38.2% Fib at 123.22 ahead of 200W SMA at 124.46.