Forex
EUR/JPY Holds Ground Above Key Support
The EUR/JPY currency cross has remained steady after minor gains yesterday, trading around 185.80 during Asian hours on Friday.
According to technical analysis of a daily chart, the currency cross is holding within an ascending channel pattern, signaling an ongoing bullish bias.
The short-term nine-period Exponential Moving Average (EMA) trades above the longer 50-period EMA, hinting at a positive trend structure. The 14-day Relative Strength Index (RSI) near 59 stays in bullish territory without yet signaling overbought conditions.
If current support holds, the EUR/JPY cross 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 188.80.