Forex
EUR/JPY Holds Above Key EMAs as Bullish Bias Continues
The EUR/JPY cross is maintaining its bullish bias as it holds above both the nine- and 50-period Exponential Moving Averages (EMAs).
The currency pair has been advancing away from its mid-180s base, with short-term averages stacked above the longer one, indicating persistent upward pressure.
The 14-day Relative Strength Index (RSI) at 57.38 is in positive territory but shy of overbought conditions, suggesting room for additional gains while upside momentum remains moderate rather than stretched.
A potential target for the EUR/JPY cross is its all-time high of 187.95 set on April 17, followed by the upper boundary of the ascending channel around 188.20.