The cross remains above key moving averages, with technical indicators suggesting potential upside toward an all-time high.
EUR/JPY stabilizes around 185.70 in Asian trading, consolidating after six consecutive sessions of gains. The pair maintains a bullish bias, supported by positions above both the nine-day and 50-day Exponential Moving Averages (EMAs) at 185.33 and 184.98, respectively.
The 14-day Relative Strength Index (RSI) stands at 57, indicating positive momentum without overbought conditions. A sustained break above the descending channel’s upper boundary near 186.00 could signal further upside, targeting the April 17 all-time high of 187.95. Downside risks emerge if the cross falls below the nine-day EMA, potentially revisiting the March 16 low of 181.87.
Technical analysis highlights the pair’s proximity to critical resistance, with bullish confirmation dependent on holding above moving averages.