EUR/JPY Rebounds from Eight-Month Lows, Yen Positioning Shifts

The EUR/JPY currency cross has made some gains after three days of losses, trading around 181.50 during Asian hours on Tuesday.

This move comes as the cross holds beneath both the nine-day and 50-day Exponential Moving Averages (EMAs).

According to analysts at Rabobank, yen positioning is likely to shift following Japan-US intervention, which saw 'JPY net shorts had climbed to their highest levels since 2024 last week.'

Rabobank notes that this official action 'suggests that positioning is likely to be sharply changed in the next data release,' but cautions it's too early to assess whether Japan's fundamentals have strengthened sufficiently.