The EUR/JPY pair continues its strong upward momentum, rising for the sixth straight day and reaching a new record high just below the key 180.00 level during Friday’s Asian session. The move reflects a combination of broad Euro strength and persistent weakness in the Japanese Yen.

The Yen remains under pressure after Japan’s Prime Minister, Sanae Takaichi, emphasized the need for close coordination with the Bank of Japan and signaled a preference for keeping interest rates low. Her comments have added more uncertainty to the BoJ’s tightening path, reinforcing the Yen’s underperformance and giving EUR/JPY a solid boost.

The Euro, on the other hand, is supported by expectations that the European Central Bank has finished cutting rates for the foreseeable future. Most economists anticipate that the ECB will hold its current deposit rate through this year and make no changes next year, strengthening market confidence in the Euro and helping push the pair higher. This backdrop supports the idea of a continued breakout above major resistance zones.

Attention now shifts to a busy Eurozone economic calendar. Traders are watching the preliminary Employment Change data, the first estimate of Q3 GDP growth, and the European Commission’s latest economic projections. These releases could influence the Euro’s direction and potentially add fresh momentum to the EUR/JPY rally, which is already on track for strong weekly gains.