EUR/JPY Stalls at 186.50 as Risk Appetite Turns Choppy

The EUR/JPY exchange rate saw a mixed session on Monday as it initially rose against the Japanese yen before turning around and showing hesitation. According to Christopher Lewis, technical analyst at DailyForex, this is a market that remains very choppy and noisy.

As of now, the euro is trading near the 186.50-yen level, which appears to be a barrier for further gains. If it breaks above this level, it could potentially reach the 187.50-yen mark, where it had previously fallen apart from in late April.

Lewis notes that the interest rate differential continues to favor the euro, making short-term pullbacks an attractive opportunity to buy. He also mentions that the candlestick is bearish-looking, but this could be a chance to take advantage of some value.