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Forex

EUR/JPY Struggles at 187 Amid Intervention Fears

Guavy AI Editorial Team
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EUR JPY
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The EUR/JPY currency pair is trading horizontally on Monday, as market participants remain cautious about pushing the cross higher due to fears of potential intervention by Japanese authorities.

The cross has been struggling to break above 187.00, despite a modestly bullish momentum shift since mid-August, as indicated by the Relative Strength Index (RSI).

From a market structure perspective, EUR/JPY is neutrally biased, but it could resume its bullish trend if it breaks above the year-high near 188.00.

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