The EUR/JPY pair remains subdued in early trading during the North American session, posting minuscule losses of 0.14% and exchanging hands at 164.65.
EUR/JPY slightly falls to 164.65, amid intervention rumors, ECB easing expectations. Surpassing 165.00 may indicate bullish trend, aiming beyond YTD high to 166.00. Falling below 164.00 might lead to correction, with key supports at Ichimoku Cloud indicators. Japanese authorities intervention threats, along with speculations that the European Central Bank could begin easing policy in June, increased appetite for the safe-haven Japanese Yen .
Conversely, if sellers push prices below 164.00, that would pave the way for a deeper correction. The next support would be the Tenkan Sen at 163.89, followed by the Senkou Span A at 163.33. Further losses are seen at the Kijun-Sen at 162.78, before clashing with the top of the Kumo around 162.50. EUR/JPY Price Action – Daily Chart EUR/JPY Overview Today last price 164.69 Today Daily Change -0.20 Today Daily Change % -0.12 Today daily open 164.89 Trends Daily SMA20 163.43 Daily SMA50 162.
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