The currency pair trades slightly lower after two sessions of advances, holding above key moving averages with a mild bullish bias.
EUR/JPY pulls back to around 185.60 in early European trading Tuesday, reversing two days of gains. The cross remains above its nine-day and 50-day EMAs, signaling a modest bullish trend despite the retreat.
The 14-day RSI at 54 indicates neutral momentum, while the pair’s movement within an ascending channel on the daily chart supports a constructive outlook. Resistance is seen at the June 5 high of 186.21, with further upside targeting the April 17 record of 187.95.
Support lies at the nine-day EMA of 185.39, followed by the 50-day EMA at 185.12. A break below could shift sentiment bearish, exposing the lower channel boundary near 184.70.