EUR/JPY attempts to refresh highs around 129.50 on hawkish ECB

• EUR/JPY trades with minute gains on Friday in the European session.
• The Euro initial gains evaporated on risk-off sentiment, despite hawkish ECB minutes.
• Yen manages to keep the momentum on its safe-haven appeal despite negative economic status.

EUR/JPY prints some gains on Friday in the European trading hours. The pair opened higher but failed to sustain the higher momentum.

At the time of writing, EUR/JPY is trading at 129.37, up 0.03%  for the day.

The shared currency remained in higher spirits after the ECB Vice President Luis de Guindos said that the central bank could scale up its macroeconomic projections for the EU in September following recent solid activity indicators in Q3.

Meanwhile, in its latest minutes of meeting ECB revealed that governing council members disagreed with its new guidance as they feared it understated the risk of rising inflation.

It is worth noting that S&P 500 Futures were trading at 4,470 down 0.58 losses

On the other hand, the Japanese failed to capitalise on investors' risk-averse mood as they were concerned whether the Japanese government would be able to pave the way for lifting an extended state of emergency.

As for now, market risk sentiment would impact the pair’s performance in the short term.

EUR/JPY additional levels