The EUR/JPY exchange rate moves toward 143.00, with investors awaiting further BOJ intervention news
The EUR/JPY is approaching 143.00 as the risk-off momentum has diminished. Lagarde believes that interest rates are the most effective instrument for policy tightening. Investors anticipate additional information regarding the BOJ's intervention.

During the Tokyo session, the EUR/JPY pair is lingering close to the immediate barrier of 142.60. The asset is auctioning between 142.25 and 142.60 and is ready for a break to the upside as the risk-off impulse shows symptoms of waning. A hawkish remark by European Central Bank (ECB) President Christine Lagarde has invigorated the bulls of the shared currency, causing the cross to advance towards the important barrier of 143.00.
ECB policymaker noted that the Governing Council is discussing Quantitative Tightening (QE) and that the interest rate is the most appropriate weapon for the current economic climate. As prices in the trading bloc continue to rise with no sign of abating, it is highly probable that restrictive policy measures will continue.
On the Tokyo front, the likelihood of a second intervention by the Bank of Japan (BOJ) in the currency markets is increasing. Officials in Japan believe that the current value of the yen does not reflect economic fundamentals. Notably, the USD/JPY pair has surpassed the region where the BOJ intervened last month.
Japanese Chief Cabinet Secretary Hirokazu Matsuno declined to comment on day-to-day fluctuations in the FX sector but stated, "We are actively monitoring FX movements with a great sense of urgency and will take appropriate action on excessive FX fluctuations." The statement was made after the USD/JPY pair reached a multi-year high of approximately 146.40.
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