EL7.AI
ForexUpdated×5•Originally published 16 April 2026•Updated 17 April 2026•
1 min read

EUR/JPY Hits New Record Highs Near 188.00 as Yen Pressure Persists

Key Facts

1The EUR/JPY pair steadied near the 187.50 level as the Japanese Yen faced pressure from improved oil prices.
2Rising energy costs typically weaken the Japanese Yen due to Japan's heavy reliance on energy imports.

The EUR/JPY cross reached fresh record highs near the 188.00 level, driven by the ongoing monetary policy divergence between the ECB and the Bank of Japan. Adding to the Yen's broad weakness, the AUD/JPY pair gained traction above 114.00 as markets increased bets for a potential rate hike by the Reserve Bank of Australia (RBA). Despite these trends, market sentiment saw a shift as geopolitical tensions eased, leading to a rebound in the Japanese Yen and a decline in the USD/JPY pair by over 0.8%. In the cryptocurrency market, Bitcoin reclaimed the $71,000 mark as risk appetite improved following the de-escalation of regional conflicts. Traders are now closely monitoring resistance levels for major crosses amid Japan's energy-driven trade deficit and shifting central bank expectations. Investors continue to balance interest rate differentials against the backdrop of a stabilizing global political landscape.