EUR/JPY Holds Within Ascending Channel, Tests Critical Support Levels

The EUR/JPY currency pair continues to trade within an ascending channel, maintaining its bullish bias. At present, it is trading around 185.60, having pulled back from earlier modest gains.

The Relative Strength Index (RSI) stands at 57.38, indicating positive momentum with room for additional gains before overbought conditions are reached.

Key confluence support levels are located around 185.19-184.72, combining the channel floor and key Exponential Moving Averages (EMAs). This support zone is critical in avoiding a deeper bearish reversal.