The safe-haven appeal of the yen returns, euro bears eye a break below the 175 mark.

Zhitong Finance APP has learned that EUR/JPY bears are eyeing a break below the 175 mark, with the yen's safe-haven attribute being reactivated accordingly. Analysis points out that France's fiscal and social pressures are exerting sustained pressure on the euro, thereby reinforcing the case for bullish yen; however, short-term uncertainty surrounding Federal Reserve policy and the U.S. midterm elections casts a shadow over this outlook. The missing link at present is: the Bank of Japan turning hawkish at its October 30 meeting. Currently, the EUR/JPY exchange rate is fluctuating around 176.