EUR/JPY Holds Above 184.00 as Risk Appetite Returns, ECB Hike Bets Firm

EUR/JPY holds steady above 184.00 amid renewed risk appetite and firm ECB tightening expectations, including a 92% priced chance of a June 25bp hike. The pair dipped to a 182.05 low on May 8 before a suspected Japanese intervention triggered a 135-pip spike to 183.40 in under 30 minutes, shocking yen shorts. Earlier, it slid from 183.75 on May 6 due to intervention warnings from Suzuki and Mimura, then stabilized near 183.50 on May 7 as strong German factory orders (+5.0% MoM) offset yen resilience from BoJ minutes favoring 0.75% rates.