The currency pair pauses after five consecutive gains, trading just below a key descending channel boundary in early Asian trade.
EUR/JPY retreated from a five-day winning streak, trading at 185.40 in early Asian hours after failing to break above 185.50 resistance. The pair remains above its nine- and 50-period Exponential Moving Averages, signaling a constructive near-term bias.
Prior to the pullback, EUR/JPY had advanced for five straight sessions, reflecting recent momentum in the cross. The 185.50 level marks the upper boundary of a descending channel, a technical barrier that has capped further upside.
No immediate market reaction was reported following the pause in the rally.