The currency pair recovers modestly following coordinated US and Japanese market intervention to support the yen.
EUR/JPY pared losses with a 0.56% gain on Tuesday, trading near 181.90 after authorities intervened to strengthen the Japanese yen. The move follows three straight days of declines for the cross-pair.
The pair shifted to sideways trading after breaking below its 200-day simple moving average, with momentum indicators pointing to potential further downside. Sellers target 180.00, while buyers must push above 182.00 to resume bullish momentum.
Technical levels to watch include the August 3 cycle low at 179.30 and the October 30, 2025 high at 178.82, with resistance at the 200-day SMA of 183.74.