EUR/JPY Breaks Out of Ascending Triangle, Eyes All-Time High

The EUR/JPY currency cross has broken above the top of an ascending triangle on its daily chart, with traders eyeing a potential target at the all-time high near 187.95.

A sustained breakout above resistance has set the stage for further gains, with the 14-day Relative Strength Index (RSI) of 59.46 indicating that buyers remain in control, albeit short of overbought territory.

The EUR/JPY cross has extended its winning streak to three consecutive days, trading at around 186.40 during Asian hours on Thursday, with a bullish near-term bias intact as it holds above both the nine-day and 50-day Exponential Moving Averages (EMAs).