⚡ Euro declines against Japanese Yen as German Manufacturing PMI flatlines in June

**BREAKING: Euro Slides Against Yen on Weak German Manufacturing Data**

The euro extended losses against the Japanese yen for a second consecutive session Tuesday, trading near 184.30 during European hours after disappointing German manufacturing data weighed on the single currency. Germany’s HCOB Purchasing Managers Index showed manufacturing activity flatlined in June, missing expectations and reinforcing concerns about the eurozone’s largest economy. The EUR/JPY cross came under immediate pressure following the release, with traders now pivoting attention to broader eurozone PMI figures expected later today.

The weakness in German manufacturing highlights persistent headwinds facing European industrial activity and suggests the European Central Bank may face limited room for hawkish policy shifts. Meanwhile, the yen continues benefiting from safe-haven flows amid global growth concerns. Currency traders should monitor whether eurozone-wide PMI data confirms or contradicts the German weakness, as this will likely determine near-term direction for the cross.

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FXnCO Insight

** Watch for eurozone PMI data today as confirmation of broader manufacturing weakness could push EUR/JPY toward further downside with 184.00 as the next technical level to watch.

Source: FXStreet