EURJPY: Why this move is about the yen, not the euro

Japanese wisdom says: “After victory, tighten the cords of your helmet” — 勝って兜の緒を締めよ.

EURJPY has fallen 3.35% over five sessions, while USDJPY has declined 4.06%. EURUSD, however, has gained 1.24%.

This suggests that the decline is predominantly driven by yen strength following the confirmed US–Japan intervention—not broad euro weakness.

EURJPY remains below the EMA 9, EMA 20, SMA 50 and SMA 200. The broader hourly structure is bearish, although price is attempting to stabilize near 180.15.

Why 180.00–180.15 matters:
• Marked horizontal support
• Rejection from the recent low
• Psychological 180.00 level

Key levels:Support: 180.15, then 179.30Resistance: 181.49 and 183.27

An hourly close below 180.15 followed by a failed retest would support continuation toward 179.30. A recovery above 183.27 would invalidate the short-term bearish structure.

Will EURJPY break below 180.15 — yes or no?

This material is intended for informational purposes only and does not constitute investment advice or a personalized investment recommendation.

The yen. The Bank of Japan. Carry trade.One market — analyzed to its core.— YenSensei