Neutral
EUR/JPY trades near 179.85 amid intervention concerns and technical resistance.
EUR/JPY is hovering around 179.85, constrained by intervention fears and technical resistance. Japanese authorities have recently conducted rate checks, signaling potential intervention to curb yen depreciation. Additionally, the 100-day simple moving average (SMA) at 180.00 is capping upward momentum.
Key points
- EUR/JPY remains below the 180.00 psychological level, facing resistance from the 100-day SMA.
- Japanese authorities have conducted rate checks, indicating potential intervention to address yen weakness.
- The 100-day SMA at 180.00 continues to limit EUR/JPY's upward movement.
Sources
AI-generated from public news sources. Not financial advice.
