EUR/JPY eases from YTD peak, up a little around 164.30 ahead of Eurozone CPI

• EUR/JPY struggles to achieve moderately acquired in the Asian session at a fresh climax of YTD.
• ECB rate cut bets prevents EUR bulls from placing fresh bets and I -cap the cross.
• The BOJ's pause can distract JPY and lend support to see prices.

The EUR/JPY Cross was building at the Blowout rally of the previous day following the Bank of Japan (BOJ) policy decision and held a fresh year-to-date top, around 164.60-164.65 regions at the Asian session on Friday. Spot prices, however, withdraw a few pips from the high -day -high -up -trading swing with moderate intradays, around 164.30 areas, as the bulls take care of the eurozone's important consumer inflation in advance.

The initial version is expected to show that the eurozone joint index of consumer prices (HICP) was eased at 2.1% yoy rate in April from 2.2% last month. However, the main inflation, which does not include PABAGU -change of food and energy prices, is seen rising to 2.5% from 2.4% in March. Against the rear of a fall in German inflation at its lowest level in seven months, softer eurozone inflation numbers will return the case for another interest rate cut by the ECB in June. This in turn, can perform some downward pressure on shared money.

Going to the basic risk of data, traders seem to be reluctant to put fresh bullish bets, which, in turn, is seen acting as a headwind for EUR/JPY Cross. However, a modest US (USD) dollar is seen offering some euro support. In addition, Dovish's BOJ pause on Thursday contributed to the Japanese Yen (JPY (JPY) underperformance and helps the prices of the area to trade in a positive bias. The BOJ, as widely expected, decided to keep short -term interest rates stable at 0.5% at the end of a two -day policy meeting on May 1.

The central bank, however, hits a careful tone by falling for the growth and inflation forecasts. In fact, the BOJ hopes that the Japanese economy has grown 0.5% in the current fiscal year compared to its earlier projection of 1.1% in January and changed the main CPI forecasting from 2.4% to 2.2% for the prosecutor 2025. The investor insisted on returning their bets for the next BoJ Interest Rate hike in June or July. This, along with the signs of avoiding US-China trade tensions, can continue to break the safe haven JPY and lend support to EUR/JPY Cross.