The currency pair trades around 185.80, supported by moving averages and RSI near 56, signaling intact upside momentum.
EUR/JPY remains steady near 185.80 in Asian trading, extending modest gains from the previous session. The cross holds above both the nine-day and 50-day Exponential Moving Averages (EMAs), reinforcing a constructive bullish bias. The shorter nine-day EMA’s alignment above the 50-day EMA further supports the positive trend backdrop.
The 14-day Relative Strength Index (RSI) at 56 indicates upside momentum without overbought conditions. Technical analysis shows the pair near the upper boundary of a descending channel at 186.20, with a sustained breakout potentially targeting the April 17 all-time high of 187.95. Downside support rests at the nine-day EMA (185.60) and 50-day EMA (185.10).
A drop below these levels could trigger a bearish reversal, pressuring the cross toward the March 16 three-month low of 181.87 or the February 12 six-month low of 180.81.