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EUR/JPY holds near 184.90 as traders eye Japan pension stance
EUR/JPY is trading above the 100-day SMA near 184.85, with resistance around 185.90 and 186.32 if the pair breaks higher.
EUR/JPY is trading higher in early European hours, around 184.90, as the Japanese yen edges lower versus the euro following reports that Japanese officials have no immediate plans to adjust state pension fund asset allocations, according to FXStreet.
Japan’s Finance Minister Satsuki Katayama said the government may consider a pension allocation tweak only if the broader environment changes, leaving traders watching for possible yen intervention from Japanese authorities.
FXStreet’s technical view highlights that the pair is holding above the 100-day simple moving average and the Bollinger Bands 20-period middle line, supporting a modest bullish bias. The upper Bollinger band near 185.89 is cited as near-term cap.
On momentum, the relative strength index is near neutral at 49.62, suggesting consolidation with a slight upward tilt. Near resistance is seen around 185.90, then the June 17 high at 186.32, while support is flagged at the 100-day SMA near 184.85, followed by the Bollinger middle band around 184.75.