EUR/JPY Price Holds Steady Amid Intervention Fears
The EUR/JPY currency pair has been holding steady around 163.70 on Monday as the Japanese Yen strengthens, causing investors to become cautious about opening new positions.
This caution is due to fears of intervention in the foreign exchange market, which may impact the prices of various currencies.
The EUR/JPY price has been range-bound over the past three trading days, stuck between 186.00 and 187.00, but it reached a new two-day low at 186.13.
This could potentially lead to further downside in the prices of this currency pair, especially if it falls below 185.35.