EUR/JPY Reverses Streak, Trades Near Eight-Month Low

The EUR/JPY currency pair has been holding onto losses near 182.50 as it maintains a bearish bias in the short term.

The pair halted its three-day winning streak and is trading around 182.50 during early European hours on Friday, according to Mitrade.

The nine-period EMA is at 183.09, acting as an initial barrier for any potential rallies, while the short- and medium-term moving averages now serve as layered overhead resistance.

Analysts highlight that officials from both Japan and the US are concerned about the level and path of the Yen, pushing back on recent weakness, which could lead to further intervention in support of the Japanese currency.