EUR/JPY stabilizes over 140.00 as the hangover from the BOJ's intervention subsides and traders scrutinize Japan's employment statistics

As the risk-on market profile benefited risk-sensitive currencies, the EUR/JPY pair has surpassed the psychological barrier level of 140.00. The asset has turned sideways and is anticipating additional optimistic bets from market participants. The shared currency bulls comeback strongly on Wednesday after falling to near 138.00. The cross broke to the upside from the four-day consolidation built between 137.38 and 139.53.

Ahead of the winter season, when the need for energy to power electrical appliances surges, it appears that investors have shrugged off concerns about energy stocks. Earlier, Eurozone bulls were under intense pressure after reports of a planned attack on the Nord Stream 1 pipeline's infrastructure. The German government is preparing substantial energy reserves ahead of the winter season, and a decrease in these reserves will exacerbate the energy problem.

In addition, President of the European Central Bank (ECB) Christine Lagarde's speech boosted the shared continent bulls. ECB Lagarde anticipates rate increases of 125 basis points (bps) at next meetings.

Investors will concentrate on Eurozone Consumer Confidence data moving forward. According to preliminary projections, the data on sentiment will remain unchanged at -28.8. In the past year, the economic indicators have become increasingly prone to error.

On the Tokyo front, investors have shrugged off the Bank of Japan's (BOJ) intervention to maintain the sinking yen. The market participants feel that the effects of intervention are short-lived, therefore only restrictive measures might provide support for the Japanese yen.

This week, the focus will be on Japanese employment figures. The Unemployment Rate is anticipated to fall to 2.5% from 2.6% previously. While the Jobs-to-Applicants Ratio will increase to 1.30 from 1.29 as previously projected.