EUR/JPY Cross Shows Strong Upward Momentum Amid Bullish Bias

The EUR/JPY cross is showing strong upward momentum, trading above 185.50 near its moving averages. The 14-day Relative Strength Index (RSI) sits at 58.39, indicating a bullish bias.

The technical analysis of the daily chart reveals that the currency pair is holding within an ascending channel pattern, signaling an ongoing uptrend.

As the EUR/JPY cross consolidates near recent highs, its RSI suggests constructive momentum without reaching overbought territory. This implies that dips could attract buying interest while the broader uptrend remains intact.

The currency pair may explore the region around its all-time high of 187.95 set on April 17, followed by the upper boundary of the ascending channel at 188.50.