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Forex

EUR/JPY Treads Near Channel Top at 187.00 Amidst Central Bank Anticipation

Guavy AI Editorial Team
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EUR JPY
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The EUR/JPY currency cross has pulled back from its ascending channel top and is currently trading near 187.00.

This comes after two days of gains, with strategists at Scotiabank noting that the Japanese Yen is holding a modest bid ahead of key central bank events.

The EUR/JPY cross holds above both the nine-day and 50-day Exponential Moving Averages (EMAs), reinforcing its bullish near-term bias.

The currency cross may test the initial resistance at the upper boundary of the ascending channel around 187.60, with a successful break above potentially supporting it to target the all-time high of 187.95 recorded on April 17.

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