The EUR/JPY currency pair traded below the 180.00 level during early European trading hours on Thursday, showing a bearish bias. According to FX Street, the pair hovered around 179.85 as traders remained cautious ahead of key economic data.
Support for the Japanese yen was bolstered by intervention risks from Japanese authorities, providing some defensive cushioning against further declines. Market participants are also awaiting Germany’s IFO survey, scheduled for release later on Thursday, which may add further direction to the euro's movement.
For Japanese investors and traders, the pair’s position below the 100-day simple moving average (SMA) highlights ongoing pressure on the euro, while intervention talk keeps the yen resilient in a volatile environment.