EUR/JPY Holds Above 100-Day SMA Amid BoJ Policy Expectations

The EUR/JPY pair has softened to near 185.50 during early European trading, but its constructive technical bias remains intact as it continues to trade above the 100-day simple moving average (SMA).

The 100-day SMA, situated around the 183.80-184.20 zone, has been acting as a dynamic floor for the pair since mid-October.

Technical analysis suggests that holding above this level signals that the broader upward momentum remains intact, with the recent pullback appearing corrective rather than trend-reversing.

The interplay between Bank of Japan policy expectations and global risk sentiment will likely dictate the pair's next directional move.