Forex: EUR/JPY trims part of steep losses

FXstreet.com (Córdoba) - After losing nearly 300 pips in the wake of Mario Draghi's comments, EURJPY finally found support and managed to cut a slight part of its steep losses during the American session.

EURJPY bounced from a low of 124.46 back above the 125.00 mark in recent dealings as risk aversion eased a tad. At time of writing, EURJPY is quoting around 125.25, still down 1.0% on the day.

The shared currency was heavily sold as ECB President Draghi talked down the euro today at a press conference. He said that even though the exchange rate isn't a policy target, the ECB would monitor the euro's level to see if it alters inflation risks.